Enhancing qualitative characteristics — Accounting glossary

Comparability helps users identify similarities and differences; verifiability helps knowledgeable independent observers reach consensus that a depiction is faithful. Timeliness means information is available in time to influence decisions, and understandability requires clear and concise classification and presentation. These characteristics are applied as far as possible, but they cannot make irrelevant or unfaithful information useful.

Worked example

A company provides consistent comparative figures and explains a material change in accounting policy. Users can better compare the two periods, while the explanation improves understandability.

Common mistake

Listing relevance as an enhancing characteristic, or treating comparability as a requirement for identical accounting policies regardless of the underlying facts.

Where it appears in your exams

Qualification	Exam	Relationship	Period
ACCA	FR	Direct	September 2026–June 2027
ACCA	SBR	Direct	September 2026–June 2027