115 CFA
File: Financial Analysis - Reading 20 - 6. Effective Financial Reporting

6. Effective Financial Reporting

e. describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards.

What are the three shared characteristics of all effective financial reporting frameworks?
1. Transparency
2. Comprehensiveness
3. Consistency

What are the three barriers to a single unified coherent financial reporting standards framework?
1. Valuation
2. Standard-setting approach
3. Measurement

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