Usefulness of accounting information is dependent upon its qualitative characteristics
The financial reporting is a wider conception in comparison to the financial statement. Furthermore, the financial reporting adds the annual report of the company for the stockholders, the company’s annual reports to the Securities and Exchange Commission, its proxy statements as well as other financial information which are reported by the organization (Holton, 2012).
Discussion and analysing the problem
The qualitative analysis is being defined to be showing the necessary quality information which is being used for supporting the role of the decision in a usefulness way. The important characteristics of the analysis can be easily determined by the process of the showing the decision model approach which is being used for defining the accounting theory. The qualitative characteristics in the process of decision making itself define the tributes of the information which is being used for determining the concept of the financial statements. The accounting information which is being reported shows the facilities of taking the economic decisions (Powers & Needles, 2012). The enhancement of the work can be easily presented by showing the FASB which enables the explanation of the accounting characteristics in an appropriate way. The structure of the work can be used by showing the users of the accounting information, persuasive constraint, user specific qualities and the primary decision specific qualities. The ingredients can be easily summarized by showing the following models and also the enhancement of the system can be depicted by showing the formation of the structure. The accounting standards are depicted to be recognizing the systems that show the information of the benefits that are essential for the construction of the report. The useful characteristics can be determined to be showing the appropriate structure which enables the enhancement of the structure in this case (Rosen, 2005). The purpose can be appropriately explained by showing the appropriate structure of the explanations which are explained in the form of the qualitative analysis.