1) Purposes of Conceptual Framework - 3 top purposes
2) The purpose of financial reporting - Predicting entity's future cash flow and management stewardship
3) Qualitative characteristics of useful information - Fundamental & Enhancing characteristics
4) The elements - Assets, Liabilities, Income , Expenses and Equity
5) Recognition - Must meet 3 conditions
6) Derecognition - 3 steps needs to be followed
7) Measurement - 2 measurement choices and how to choose appropriate measurement model
8) Presentation and disclosure - Presenting incomes & expenses in Statement of profit and loss vs Other Comprehensive Income. The situations in which items recognized in OCI can be reclassified to profit and loss.
9) Link Conceptual Framework principles with all IFRS & IAS standards

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