Qualitative and Quantitative Characteristics

question 35

Essay

Qualitative and quantitative characteristics
i. Distinguish between qualitative and quantitative characteristics.
ii. At what point in the six-step decision-making process do the qualitative characteristics have an impact?

---

Definitions:

International Accounting Standards Board

An independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs).

IFRS

International Financial Reporting Standards are a set of accounting rules and standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

EU

A political and economic union of 27 European countries that are located primarily in Europe, aimed at fostering economic cooperation and collective regulation.

Securities Commissions

Governmental or regulatory bodies responsible for overseeing and regulating the securities and investments market, ensuring fair practices.