[Verse 1] Financial statements tell a story clear About a company's performance through the year But how do we know what makes them right? The conceptual framework shines the light It sets the rules for what we show The foundation that helps investors know [Chorus] Relevant and faithful, that's the key Quality characteristics, can't you see? R-E-L-E-V-A-N-T, makes a difference in your choice F-A-I-T-H-F-U-L, gives the numbers their true voice Conceptual framework guides the way For financial reporting every day [Verse 2] The objective is so crystal clear Provide information users need to hear Investors, lenders, creditors too Need data that will help them choose Economic decisions based on facts Not fiction dressed up to attract [Chorus] Relevant and faithful, that's the key Quality characteristics, can't you see? R-E-L-E-V-A-N-T, makes a difference in your choice F-A-I-T-H-F-U-L, gives the numbers their true voice Conceptual framework guides the way For financial reporting every day [Verse 3] Relevance means it matters now Predictive value shows us how The future might just come to be Confirmatory value lets us see If past predictions came out right Material impact in our sight [Verse 4] Faithful representation means it's true Complete and neutral through and through No bias hiding in the text Free from error, nothing vexed What happened really happened so The substance is what we must show [Bridge] When relevant meets faithful rep That's when quality takes its step Both working together hand in hand Help users truly understand The financial position strong This framework keeps us right, not wrong [Chorus] Relevant and faithful, that's the key Quality characteristics, can't you see? R-E-L-E-V-A-N-T, makes a difference in your choice F-A-I-T-H-F-U-L, gives the numbers their true voice Conceptual framework guides the way For financial reporting every day [Outro] Remember these fundamentals well They are the foundation we can tell Quality information starts right here With principles crystal clear
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