Compare and assess the qualitative characteristics of ‘relevance’ and ‘comparability’ of accounting information of a listed company for the financial statements between year 2009 and 2010.
The question belongs to Accounting and it deals with comparison of qualitative characteristics for relevance and compatibility of accounting information from a listed company of financial statements between years 2009 and 2010. The company that has been used here is Air Asia. Air Asia is one of the leading low cost airlines in Southeast Asia, based out of Malaysia. Relevant and reliable qualitative characteristics of accounting information for assessing the financial strength such as balance sheets, income statements, cash flow statements, etc are used by Air Asia to forecast the future financial position of the company.
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