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    This post addresses the quality of accounting information.

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    One of our concepts deals with the quality of accounting information. Which quality do you consider most important? Explain why.
    -Value of relevance, reliability, consistency, and comparability

    © BrainMass Inc. brainmass.com November 30, 2021, 5:32 am ad1c9bdddf

    Solution Preview

    Reliability is definitely the most important quality for a financial statement. The financial statements are being prepared for the external users. The external users, including the shareholders, creditors, and others look at the company's financial statements and analyze them to determine if their money is safe within the ...

    Solution Summary

    The solution discusses which qualities are the most important when dealing with accounting information, and also explains the values of relevance, reliability, consistency, and comparability. The solution is written based on 25+ years of professional experience in the business and accounting industries.