Conceptual Framework for Financial Reporting 2010 (Conceptual Framework 2010):
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 about providing resources to the entity. Those decisions involve buying, selling or holding equity and debt instruments, and providing or settling loans and other forms of credit.3
(Institute 100)
Institute, CFA. 2016 CFA Level I Volume 3 Financial Reporting and Analysis. CFA Institute, 07/2015. VitalBook file.
The citation provided is a guideline. Please check each citation for accuracy before use.
And then a little bit further down:
The IASB and the FASB have developed similar financial reporting frameworks which specify the overall objective and qualities of information to be provided. Financial reports are intended to provide information to many users, including investors, creditors, employees, customers, and others.
(Institute 102)
Institute, CFA. 2016 CFA Level I Volume 3 Financial Reporting and Analysis. CFA Institute, 07/2015. VitalBook file.
The citation provided is a guideline. Please check each citation for accuracy before use.
So which definition should we go by?