Qualitative Characteristics of Financial Statements
Fundamental Primary Qualitative Characteristics. Relevance requires financial information to be related to an economic decision. Chapter 7 Accounting Principles Accounting Principles Accounting Principles 3 Freedom from error Financial information is. . The users must readily understand the essential quality of the financial statements. Qualitative characteristics of accounting information that impact how useful the information is. Ad Browse Discover Thousands of Book Titles for Less. The following are the essential qualitative characteristics of the financial statements. The financial statements are published to address the shareholders of the company. The following are all qualitative characteristics of financial statements. Faithful representation this means that financial information must be complete neutral and free from error. The two fundamental qualitative characteristics of financial reports are r...