1.Explain what are financial reporting and general purpose financial statements.

2.Examine the impact of ethical professional behaviour and accountability of accountants on financial reporting using stewardship theory.

3.Describe the objective of general purpose financial reporting in Accounting framework 2019, and explain the financial information that are to be presented in financial statements in order to achieve the objective.

4.Critically evaluate the argument that the preparation of financial statements is merely a support to accountability objective, and they are no use to potential investors.

5.Discuss the arguments that confirmatory and predictive roles as the principle elements of relevance of financial reporting for decision -usefulness objective.

6.Recommend the possible improvements in financial reporting that would meet the needs of financial information users and as to why an agreed objective for financial reporting is a prerequisite for the resolution of many disputes in financial accounting practice.