Financial Accounting
Financial Accounting
7th Edition
ISBN: 9781118162286
Author: Kimmel, Paul D.
Publisher: John Wiley & Sons Inc
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Chapter 2, Problem 16Q
To determine

Accounting Information: Accounting information to be useful to its users, must have the following characteristics as described by FASB (The Financial Accounting Standards Board) and IASB (The International Accounting Standards Board) jointly;

  • Relevance
  • Faithful Representation
  • Comparability
  • Verifiability
  • Timeliness
  • Understandability

To Describe: The constraint inherent in the presentation of the accounting information.

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Financial Accounting

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