To better serve the interest of the users of the financial statements, learners are guided by their understanding of the conceptual framework for financial reporting and accounting standards. 

This course equips the learners with a thorough understanding of IASB’s Conceptual Framework, preparation and presentation of Statement of Financial Position and Explanatory Notes, Statement of Comprehensive Income, Statement of Cash Flows and Statement of Changes in Equity. Learners are expected to prepare and present financial statements and related note disclosures in accordance with the Philippine Financial Reporting Standards.