How can the qualitative relevance characteristic be improved in high-quality accounting information? Do not simply repeat what it is, provide suggestions as to how a particular part of the qualitative characteristics could be improved. Please provide different answers and explanations than copy and pasting: “Accounting information is relevant if it can provide helpful information about past events and help in predicting future events or in taking action to deal with possible future events. For example, a company experiencing a strong quarter and presenting these improved results to creditors is relevant to the creditors' decision-making process to extend or enlarge credit available to the company.”
How can the qualitative relevance characteristic be improved in high-quality accounting information? Do not simply repeat what it is, provide suggestions as to how a particular part of the qualitative characteristics could be improved.
Please provide different answers and explanations than copy and pasting:
“Accounting information is relevant if it can provide helpful information about past events and help in predicting future events or in taking action to deal with possible future events. For example, a company experiencing a strong quarter and presenting these improved results to creditors is relevant to the creditors' decision-making process to extend or enlarge credit available to the company.”
Accounting information is related to the activities of the business. This information is provided to the stakeholders of the business. The stakeholders of the business include employees, shareholders, managers, creditors, tax authorities and bankers.
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