To get from reporting objectives of a standard to implementation, it is important to identify the qualitative characteristics of the information to be included. These qualitative characteristics can be broken down into __________ and enhancing qualities.

Answer 1

These qualitative characteristics can be broken down into fundamental qualities and enhancing qualities.

Fundamental qualities typically include relevance and faithful representation, while enhancing qualities often encompass comparability, verifiability, timeliness, and understandability. These characteristics are essential for ensuring that the information provided in reporting meets the needs of its users.