Qualitative Characteristics of Financial Statements
Thus understandable financial accounting information presents data that can be under-stood by users of the information and is expressed in a form and with terminology adopted to the users range of understanding. Objectives of Federal Financial Reporting PDF SFFAC 2. Review Ifrs Basic Concept Fundamental Qualitative Characteristics Basic Concepts Fundamental Guided Math Relevance is the capacity of the financial information to influence the decision of its users. . Main capabilities On successful completion of this exam candidates should be able to. The ingredients of relevance are the predictive value and confirmatory. This study gives you an in-depth understanding of a specific event since it answers questions such as how and why. These broad classes are termed the elements of financial statements. Examples include non-cancelable as at balance sheet date binding contracts to rent space in the future or to purchase items a
