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Beyond Chalk: Education Innovation

Qualitative Characteristics

 The International Framework for the Preparation and Presentation of Financial Reports sets out some broad concepts that guide the prepartation of accounting reports. These broad concepts are known as Qualitative Characteristics. The Qualitative Characteristics are basic qualities that accounting information should posess. The four qualitative characteristics of accounting reports are:

  • Comparability
  • Understandability
  • Relevance
  • Reliability

To help remember these you can use Mr Curr.

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