Explore the evolution and details of Financial Reporting Standards (FRS) as issued by the UK's Accounting Standards Board and the Financial Reporting Council, focusing on harmonization with international practices.
Explore the principle of relevance in financial reporting, which ensures that financial information influences user decisions, as recognized by major accounting standards.
Explore the essence of the Statement of Cash Flows, the crucial financial document dictated by various financial reporting standards including IFRS and FRS.