The usefulness of IFRS-compliant reports: perceptions of Sri Lankan investors and lenders

Abstract

“The objective of general-purpose financial reporting is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions relating to providing resources to the entity. Those decisions involve decisions about (1) buying, selling or holding equity and debt instruments; (2) providing or settling loans and other forms of credit; or (3) exercising rights to vote on, or otherwise influence, management’s actions that affect the use of the entity’s economic resources.”