Tag Archives | Corporate Disclosure

Top 11 Qualitative Characteristics of Accounting Information

The following points highlight the top eleven characteristics of accounting information. The characteristics are: 1. Relevance 2. Reliability 3. Understandability 4. Comparability 5. Consistency 6. Neutrality 7. Materiality 8. Timeliness 9. Verifiability 10. Conservatism 11. Substance over Form. Characteristic # 1. Relevance: Relevance is closely and directly related to the concept of useful information. Relevance implies that all those items of [...]

By |2016-06-18T07:01:37+00:00June 18, 2016|Financial Reporting|Comments Off on Top 11 Qualitative Characteristics of Accounting Information
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IASB’s Conceptual Framework: Subject-Matter and Uses

In this article we will discuss about the subject matter and uses of IASB’s conceptual framework. Subject-Matter of IASB'S Framework: IASB's conceptual framework deals with: (a) The objective of financial statements; (b) The qualitative characteristics that determine the usefulness of information in financial statements, (c) The definition, recognition and measurements of the elements from which financial statements are constructed; and [...]

By |2016-06-18T07:01:37+00:00June 18, 2016|Financial Reporting|Comments Off on IASB’s Conceptual Framework: Subject-Matter and Uses
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Financial Reporting: Concept, Objectives and Benefits

In this article we will discuss about Financial Reporting:- 1. Concept of Financial Reporting 2. Objectives of Financial Reporting 3. Developments on Financial Reporting Objectives Concept of Financial Reporting: Financial reporting may be defined as communication of published financial statements and related information from a business enterprise to third parties (external users) including shareholders, creditors, customers, governmental authorities and the [...]

By |2016-06-18T07:01:37+00:00June 18, 2016|Financial Reporting|Comments Off on Financial Reporting: Concept, Objectives and Benefits
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