Înapoi la: ACCA – Financial Accounting 🟥
In this lesson you will learn:
- what are the qualitative characteristics of good financial information
- what are the main accounting principles
The qualitative characteristics of financial information
The accounting principles
This lesson in a nutshell:
The calitative characteristics of good financial information are:
- Fundamental characteristics:
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- relevance
- faithful representation
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- Enhancing characteristics
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- Verifiability
- Comparability
- Understandability
- Timeliness
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The main accounting principles are:
- materiality
- substance over form
- going concern
- business entity
- accrual principle
- fair presentation
- consistency
You know it!
This lesson is not to be considered complete until you successfully solve the questions below 🙂
Use what you learned in this lesson and what you know from before and try your best!
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IMPORTANT!
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If you really wish to test your understanding and to ensure you retain all the concepts try it at least 4 times (or until you receive no more new questions 😉 )!
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