Neutrality: Difference between revisions
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* [[Faithful representation]] | * [[Faithful representation]] | ||
* [[Financial reporting]] | * [[Financial reporting]] | ||
* [[ | * [[Neutral]] | ||
* [[Prudence]] | * [[Prudence]] | ||
* [[Relevance]] | * [[Relevance]] | ||
Latest revision as of 21:46, 24 March 2023
Financial reporting - accounting concepts.
In financial reporting, neutrality means avoiding bias of any kind.
Under the IFRS Conceptual Framework, neutrality is an essential component of 'faithful representation'.
In turn, a neutral representation is supported by prudence.
