Page 26 - PowerPoint Presentation

THE CONCEPTUAL FRAMEWORK

Qualitative Characteristics Of Useful Financial

Information

• Fundamental characteristics

• Relevance

• Faithful representation

• Applying the fundamental qualitative characteristics

• Enhancing characteristics

• Comparability

• Verifiability

• Timeliness

• Understandability

• Applying the enhancing characteristics

• The cost constraint on useful financial reporting

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