This document provides an overview of the Conceptual Framework for Financial Reporting issued by the IASB in September 2010. It discusses the objective of general purpose financial reporting, which is to provide useful financial information to existing and potential investors, lenders, and other creditors. Such information helps users assess the prospects for future net cash inflows to the entity. The document also describes the types of information provided in financial reports, including information about a reporting entity's economic resources, claims, and changes in resources and claims resulting from financial performance and other transactions.