Thursday 12 April 2012

General Purpose Financial Report

Hi Platinum
Could you please explain me what  a "General Purpose Financial Report "is and their purpose in financial reporting.
Thanks,
Jaspreet           

1 comment:

  1. Hi Jaspreet,

    ‘General Purpose Financial Report’ is the financial statements prepared to meet the needs of ALL financial information users.

    Oppose to GPFR, ‘Special Purpose Financial Report’ is prepared to meet the needs of only a particular group such as investors, creditors etc.

    Regards,
    Florian

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