--%>

Characteristics which accounting information posess

What are the key qualities or characteristics which accounting information should possess?

E

Expert

Verified

The accounting information must possess certain key qualities or characteristics which are as follows:

a) Relevance.
b) Reliability.
c) Comparability.
d) Understandability.

   Related Questions in Managerial Accounting

  • Q : Capital account An account used in a

    An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning

  • Q : Main working areas of the coach

    Write a short note on the main working areas of the coach maintenance department?

  • Q : What is Controllable Cost Controllable

    Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.

  • Q : Key performance indicators or KPI What

    What do you mean by the term key performance indicators or KPI? Explain in brief?

  • Q : Define Cost Accounting Practice Cost

    Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.

  • Q : Define Full Cost Full Cost : The sum of

    Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.

  • Q : Management accounting and financial

    What does the difference between management accounting and financial accounting suggest?

  • Q : Understandability-Accounting information

    What do you mean by the term Understandability which is accounting information?

  • Q : Significance of partnership deed Why is

    Why is it significant to encompass a partnership deed in writing? Answer: Partnership deed is significant as it is a document stating relationship of each and every

  • Q : Functions explain how the provision of

    explain how the provision of management accounting information can assist the management of a company with planning, controlling, decision making and communicating