I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

Corresponding information for preceding periods should be shown to enable comparison to be made 

over time. 

3.3.2 Verifiability 

'

Verifiability

. Verifiability helps assure users that information faithfully represents the economic 

phenomena it purports to represent. It means that different knowledgeable and independent observers 

could reach consensus, although not necessarily complete agreement, that a particular depiction is a 

faithful representation.' 

(Conceptual Framework for Financial Reporting 2018, para. 2.30)  

 

Information that can be independently verified is generally more decision-useful than information that 

cannot. 

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