information is useful in predicting the future
pertinent to the decision at hand
information is available prior to the decision
distribution to owners
decreases in equity resulting from transfers to owners
information confirms expectations
along with relevance, a primary decision-specific quality
results if an asset is sold for more than its book value
agreement between a measure and the phenomenon it purports to represent
the change in equity from non-owner transactions
concerns the relative size of an item and its effect on decisions
important for making inter-firm comparisons
accounting information should not favor a particular group
the process of admitting information into financial statements
apply the same accounting practices over time
requires consideration of the costs and value of information
implies consensus among different measures
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