Qualitative characteristics of useful financial information: Difference between revisions
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imported>Doug Williamson (Create page - source - IAS Plus - 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 11:15, 4 March 2022
Financial reporting - International Financial Reporting Standards (IFRS) - Conceptual Framework for Financial Reporting (Conceptual framework) - International Accounting Standards Board (IASB).
The financial reporting Conceptual framework identifies the fundamental qualitative characteristics of useful financial information as:
- Relevance, and
- Faithful representation.
The Conceptual framework goes on to identify the following further characteristics as enhancing the usefulness of relevant and faithfully represented financial information:
- Comparability
- Verifiability
- Timeliness, and
- Understandability.
See also
- Accounting concepts
- Comparability
- Conceptual framework
- Faithful representation
- Financial reporting
- International Accounting Standards
- International Accounting Standards Board (IASB)
- International Financial Reporting Standards (IFRS)
- Neutrality
- Prudence
- Qualitative techniques
- Relevance
- Stewardship
- Substance over form
- Timeliness
- True and fair view
- Understandability
- Useful financial information
- Verifiability
