Financial Accounting/Financial Statements/Qualitative Characteristics

Following are the qualitative characteristics of financial statements, as defined by the Framework of IAS/IFRS:


 * 1) Understandibility
 * 2) Relevance
 * 3) Materiality
 * 4) Timeliness
 * 5) Reliability
 * 6) Faithful representation
 * 7) Substance over form
 * 8) Neutrality
 * 9) Prudence
 * 10) Completeness
 * 11) Comparability