Accruals basis

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March 31, 2015 at 12:52 am #239604
Quốc Anh
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Question:
Which one of the following is not a qualitative characteristic of financial information according to Conceptual Framework for Financial Statement?
A. Going concern
B. Timeliness
C. Relevance
D. Accrual

I got the answer but now i dont the reason why the accruals basis is not a qualitative characteristic for financial statement. For me, accruals mean that every transaction if it happened need to be recorded in response to matching concept.
March 31, 2015 at 2:43 pm #239669
John Moffat
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True, but it is really quantitative rather than qualitative because it involves calculations.
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