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Syllabus B1. Qualitative Characteristics

Syllabus B1

Qualitative Characteristics 1 / 1

a) Define, understand and apply qualitative characteristics:
i) Relevance
ii) Faithful representation
iii) Comparability
iv) Verifiability
v) Timeliness
vi) Understandability

b) Define, understand and apply accounting concepts:
i) Materiality
ii) Substance over form
iii) Going concern
iv) Business entity concept
v) Accruals
vi) Prudence
vii) Consistency