标题: The different sets of factors/qualities of financial statements. [打印本页] 作者: w1977 时间: 2011-7-11 18:29 标题: The different sets of factors/qualities of financial statements.
It seems the lists keep getting bigger and bigger and I keep finding new ones I hadn't heard of before after taking these mock exams. What is the best way to remember all the different qualitative aspects of financial statements under the different frameworks.
For example I remember
CONSistency
TRANSparancy
COMPrehensiveness
is one. Not that I know what its for.
Then you have reliability and all the others ones I honestly can't remember off the top of my head. Any help here?作者: MythosHF 时间: 2011-7-11 18:29
also, because Reliability has more letters in it than Relevance, it is also the one that has the 5 other factors.
Edited 1 time(s). Last edit at Friday, June 4, 2010 at 05:16PM by gartsy.作者: JPSem 时间: 2011-7-11 18:29
I like gartsy's better 作者: Londonrocks 时间: 2011-7-11 18:29
Toronto transit worked well for me. Thanks again Matt, that's two.作者: farrukhsadiq 时间: 2011-7-11 18:29
Qualitative Characteristics:
CUBUD ------> COMPARABILITY UNDERSTANDABILITY Benefit User Decisions
RELEVANCE :
Passing--------->Predictive Value
Feeels --------> Feedback Value
Mighty---------> Material
Terrific --------> Timeliness
RELIABILITY:
N ..obody R..ely S on P..ast Financials Unless C...ompletely Verified
Neutrality
Represent Faithfulness
Substance over Form
Prudence
Completeness
Contraints:
Benefits vs Costs
Materialility
Reliability vs Timeliness : Think of this constraint - --- 10 K vs 10Q: One is audited and more reliable and the other is unaudited but more timely.
