Financial Accounting is concerned with preparing a number of financial reports or financial statements which will be used by several users. Companies rely on the financial reports prepared by their accountants to be true and accurate to make sound business decisions. Inaccurate financial reporting caused by the unethical or deceptive practices of a company's accountants can lead to loss of revenue through an exposed accounting scandal, or worse, corporate collapse. Describe how the IASB framework sets out the qualities required to make information useful to all users of financial statements. (20 Marks)