Qualitative Characteristics of Accounting Information

Qualitative Characteristics of Accounting Information Qualitative characteristics are the attributes that make the information provided in financial statements useful to users. The four principal qualitative characteristics are understandability, relevance, reliability and comparability. It is also pointed out that these qualitative characteristics may need to be balanced against one another. (John Wiley Sons Australia, Ltd, 2009) The relative importance of the characteristics in different cases is a matter of professional judgment. Relevance Relevance refers to the information provided with the statements of users associated with the purpose to be achieved. If a message has nothing to do with the statements of purpose of the user,†¦show more content†¦Also known as unbiased fairness, which requires accountants to provide accounting information in an unbiased, non-biased towards any particular impact of stakeholders, not to pursue the intended results of the accounting information does not impose any subjective effects. Authenticity and integrity is consistent with the lack ofShow MoreRelatedEvaluating the Qualitative Characteristics of Accounting Information2693 Words   |  11 PagesFACTORS AFFECTING ACCOUNTING INFORMATION SYSTEMS SUCCESS IMPLEMENTATION (An Empirical Study on Central Java Small and Medium Company) THESIS ASHARI C4C005126 ACCOUNTING MASTER PROGRAM DIPONEGORO UNIVERSITY SEMARANG 2008 ABSTRACT Because of its important role in economics growth, small and medium business enterprises has to increase its capability and human resource in order to win the global competition with foreign economics institution. 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