(a) Neutrality is an ingredient of this fundamental quality of accounting information. (b) Information cannot be selected to favor one set of interested parties over another. (c) (d) (e) (f) (g) (h) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. Predictive value is an ingredient of this fundamental quality of information. Imperative for providing comparisons of a firm from period to period. Quality of information that confirms or changes users' earlier expectations. Requires a high degree of consensus among individuals on a given measurement. Qualitative characteristics that are related to both relevance and faithful representation. Comparability Comparability, Verifiability. Timeliness, and Completeness Confirmatory Value Faithful Representation Materiality Neutrality Predictive Value Relevance Relevance and Faithful Representation Timeliness Understandability Verifiability