Explain comparability as the qualitative aspect of accounting.
Dear Student,
Qualitative aspect of accounting information focus on certain qualities which financial information must posses. These aspects are Relevance, Reliability, Consistency & Comparability.
Its "Comparability" basis on which statutory required items must be disclosed in financial report as statutory information is a common set of data which can be compared.
Regards
Qualitative aspect of accounting information focus on certain qualities which financial information must posses. These aspects are Relevance, Reliability, Consistency & Comparability.
Its "Comparability" basis on which statutory required items must be disclosed in financial report as statutory information is a common set of data which can be compared.
Regards