What are the Characteristics of accounting?
or
What are the attributes of accounting?
Or
What are the features of accounting?
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Answered by
57
Answer:
Understandability. This implies the expression, with clarity, of accounting information in such a way that it will be understandable to users - who are generally assumed to have a reasonable knowledge of business and economic activities.
Relevance. ...
Consistency. ...
Comparability. ...
Reliability. ...
Objectivity.
Answered by
57
Answer:
Following are the characteristics features of Financial Accounting:
Monetary Transactions: In financial accounting only transactions in monetary terms are considered. ...
Historical Nature: ...
Legal Requirement: ...
External Use: ...
Disclosure of Financial Status: ...
Interim Reports: ...
Financial Accounting Process:
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