What are the key considerations that are required prior to preparation of financial statements ?

Hi everyone,

I have come across the following question:
What are the key considerations that are required prior to preparing financial statements ?

Is this this different from the overall requirements for financial statements, including how they should be structured, the minimum requirements for their content and overriding concepts such as going concern, the accrual basis of accounting and the current/non-current distinction.

Appreciate the help.

Thanks.