Financial Accounting/Financial Statements/Qualitative Characteristics
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Following are the qualitative characteristics of financial statements, as defined by the Framework of IAS/IFRS:
- Understandibility
- Relevance
- Materiality
- Timeliness
- Reliability
- Faithful representation
- Substance over form
- Neutrality
- Prudence
- Completeness
- Comparability
See also[edit | edit source]
Further reading[edit | edit source]
- IASB. International Financial Reporting Standard