explain attributes of accounting
Answers
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꧁ATTRIBUTES OF ACCOUNTING. Hierarchy of Qualitative Information Understandability Decision Usefulness Relevance Predictive Value Feedback Value Timeliness Reliability Verifiability Neutrality Representational Faithfulness Comparability and Consistency.꧂
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Technical and ethical competencies (TEQ):
The skills and abilities to perform activities consistently to a defined standard. Often based on a professional qualification.
Intelligence (IQ):
The ability to acquire and use knowledge: thinking, reasoning and solving problems.
Creativity (CQ):
The ability to use existing knowledge in a new situation, to make connections, explore potential outcomes, and generate new ideas
.
Digital (DQ):
The awareness and application of existing and emerging digital technologies, capabilities, practices, strategies and culture.
Emotional intelligence (EQ):
The ability to identify your own emotions and those of others, harness and apply them to tasks, and regulate and manage them.
Vision (VQ):
The ability to predict future trends accurately by extrapolating existing trends and facts, and filling the gaps by thinking innovatively.
Experience (XQ):
The ability and skills to understand customer expectations, meet desired outcomes and create value.