Comparability: Difference between revisions
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imported>Doug Williamson (Create page - source - IAS Plus conceptual framework - https://www.iasplus.com/en/standards/other/framework) |
imported>Doug Williamson (Classify page.) |
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*[https://www.iasplus.com/en/standards/other/framework Conceptual framework for financial reporting - IAS Plus] | *[https://www.iasplus.com/en/standards/other/framework Conceptual framework for financial reporting - IAS Plus] | ||
*[[Media:IFRS_conceptual-framework-project-summary.pdf|IFRS Conceptual Framework Project Summary 2018]] | *[[Media:IFRS_conceptual-framework-project-summary.pdf|IFRS Conceptual Framework Project Summary 2018]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Revision as of 11:14, 4 March 2022
1. Financial reporting - conceptual framework.
In financial reporting, information is more useful if it can be compared with:
- Similar information about other entities, and
- Similar information about the same entity for another period, or at another date.
Comparability enables users to identify and understand similarities in - and differences between - items.
2. Financial markets - other contexts.
Similar characteristics of information in financial markets more broadly, and other contexts.
Financial measures designed to improve comparability include effective annual rates.
See also
- Accounting concepts
- Conceptual framework
- Effective annual rate
- Faithful representation
- Financial reporting
- International Accounting Standards
- International Accounting Standards Board (IASB)
- International Financial Reporting Standards (IFRS)
- Neutrality
- Prudence
- Qualitative characteristics of useful financial information
- Relevance
- Substance over form
- Timeliness
- True and fair view
- Understandability
- Useful financial information
- Verifiability
