The demand for accounting information by investors, lenders Top Banks in the USA According to the US Federal Deposit Insurance Corporation, there were 6,799 FDIC-insured commercial banks in the USA as of February 2014. PDF | On Jan 1, 2007, Ahmad N. Obaidat published Accounting Information Qualitative Characteristics Gap: Evidence from Jordan | Find, read and cite all the research you need on ResearchGate View Qualitative Characteristics of Accounting Information Module (1).pdf from CBA 221 at Notre Dame University, Cotabato City. What are the Qualitative Characteristics of Accounting Information? Without these qualities accounting information wouldn’t be clear and an orderly view of the business would not be visible. 6. ( OMPF . Accounting information qualitative characteristics are summarized below: In addition to the aforementioned characteristics (i.e., relevance, reliability, comparability, and consistency), the following qualities of accounting information affect its usefulness: understandability, materiality, and … Figure 2. Qualitative Characteristics of Accounting Information There are some qualities of accounting that make it useful for both external and internal users of accounting. Financial accounting is charged with the primary responsibility of external reporting. The characteristics or qualities of information discussed in this Statement are the ingredients that make information useful and are the qualities to be sought when accounting choices are made. Characteristics of accounting information information Source: Own projection Within the managerial system, for the accounting information to be useful, it s necessary the fullfilment of four principal qualitative characteristics: comprehensibility, relevance, reliability and compatibility of information. The users of information generated by financial accounting, like bankers, financial institutions, regulatory authorities, government, investors, etc. Accounting Standards Board, must often select or evaluate accounting alternatives. 4 qualitative characteristics of accounting information are; Comparability Comparison is a very important Qualitative Characteristics AcPlus Essentials of Accounting, Business 1802 of December 29, 2014) Moreover, it highlights the nature and characteristics of each such costs with reference to varying production levels. The total cost is divided into fixed, variable and semi-valuable under management accounting system. Statement of Accounting Concepts SAC 3 (8/90) Qualitative Characteristics of Financial Information Prepared by the Public Sector Accounting Standards Board of the Australian Accounting Research Foundation and the Accounting Standards Review Board Issued by the Australian Accounting Research Foundation on behalf of the want the accounting information to be … Importance to Elements of Costs.