Page 81 - FR Integrated Workbook 2018-19
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A conceptual and regulatory framework





                            Conceptual Framework




               2.1 Qualitative characteristics


               Qualitative characteristics are attributes that make information useful.  The
               Framework splits the characteristics between:

                    Fundamental


                     –     Relevance

                               Predictive value – evaluate past, present or future events

                               Confirmatory value – confirm or correct past evaluations

                     –     Faithful representation


                               Complete

                               Neutral

                               Free from error

                    Enhancing


                     –     Comparability

                     –     Verifiability

                     –     Timeliness

                     –     Understandability


























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