Intermediate Accounting

Card Set Information

Author:
Anonymous
ID:
197955
Filename:
Intermediate Accounting
Updated:
2013-02-04 19:28:19
Tags:
Intermediate Accounting
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Description:
A building card set of terms and definitions
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The flashcards below were created by user Anonymous on FreezingBlue Flashcards. What would you like to do?


  1. Predictive Value
    Information is useful in predicting the future
  2. Relevance
    Pertinent to the decision at hand
  3. Timeliness
    Information is available prior to the decision
  4. Distribution to owners
    Decreases in equity resulting from transfers to owners
  5. Conformity value
    Information confirms expectations
  6. Understandability
    Users understand the information in the context of the decision being made
  7. Gain
    Results if an asset is sold for more than its book value
  8. Faithful Representation
    Agreement between a measure and the phenomenon it purports to represent

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