Acc 131 Ch. 2

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Author:
tank83
ID:
103466
Filename:
Acc 131 Ch. 2
Updated:
2011-09-21 21:42:27
Tags:
acc 131
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Description:
Acc 131 Ch. 2
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  1. Relevance
    When information is capable of making a difference in a business decision by helping users predict future events.
  2. Faithful representation
    Accounting information should be a faithful representation of the real-world economic event that it is intending to portray. Faithfully represented information should be complete, neutral, and free from error.
  3. Name the 4 enhancing characteristics
    • Comparability
    • Verifiability
    • Timeliness
    • Understandability

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