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In section 2 of the Discussion Paper, the IASB has proposed that a set of principles of affective communication be developed. The seven principles
In section 2 of the Discussion Paper, the IASB has proposed that a set of principles of affective communication be developed. The seven principles identified in the Discussion Paper are that information in the financial reports should be: Entity specific; Clear and simple; Organised to highlight important matters; Linked to related information; Free from unnecessary duplication; Comparable; and In an appropriate format The IASB is also of the preliminary view that it should develop guidance on the use of formatting in the financial statements. The IASB suggests that this guidance could help to improve the effectiveness of information communicated in the notes.
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