1. What is the conceptual framework for financial reporting and what is its purpose?

2. How are International Financial Reporting Standards developed?

3. Explain each of the qualitative characteristics of Financial reporting using examples to strengthen the explanations provided

4. How are the elements of the financial statements recognized?

5. Explain the reasons for the introduction of IFRS 13 Fair value measurement together with the application of the key principles to determine fair value measurement in specific situations