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The qualitative characteristics of relevance, understandability, reliability, and comparability identified in the IASBs Conceptual Framework for Financial Reporting 2010 (the IFRS Framework) are some of

The qualitative characteristics of relevance, understandability, reliability, and comparability identifiedin the IASBs Conceptual Framework for Financial Reporting 2010 (the IFRS Framework) are someof the attributes that make financial information useful to the various users of financial statements.Explain what is meant by relevance, understandability, reliability, and comparability and how theymake financial information useful. (10 Marks)

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