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ADMS 1000 (298)
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Department
Administrative Studies
Course
ADMS 1000
Professor
All Professors
Semester
Fall

Description
Qualitative characteristics of financial information: Ways to create a useful financial statement Relevance, information influence a decision or a belief -bank loaning money is relevant to lending decision 1) Predictive Value, 2) Confirmatory Value, 3) Material, 4) Entity Specific Faithful Representation, information be complete, neutral, and free from material error Complete: includes all info, no false or misleading Neutral: free from bias, not to achieve a wanted result Free from error: estimates should be free from material error, since estimates cannot be error-free
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