For accounting information to be ?decision useful' to this groups of people, the financial information selected has to fulfill the qualitative characteristics of relevance and reliability, while the subsequent presentation of the financial information should be both understandable and comparable (Henderson et al... displayed 300 characters
Custom written essay
All essays are written from scratch by professional writers according to your instructions and delivered to your email on time. Prices start from $10.99/page
Your research paper is written by certified writers
Your requirements and targets are always met
You are able to control the progress of your writing assignment
You get a chance to become an excellent student!
Get a price guote
The basic attributes of what quantifies the information as useful is illustrated in Figure 1: Qualitative Characteristics of Financial Reporting.
While the financial statements are made up of the same information, it is being viewed and utilized in different ways by the different groups of users. For one, investors and shareholders extract the necessary information from the financial statements to assess how much risk they might get involved in by placing their capital into an entity for investment purposes... displayed 300 characters
