Almost every day people in finance issues financial reports which aim to be used by various users of the Financial Information, including Marketers, and so can make the best decisions based on the numbers that show these reports.
People, who are involved in marketing, often have to use the financial information issued by the accounting department to make marketing planning, information that will be used to assess problems and opportunities in the development of the marketing plan.
The qualitative characteristics that financial information should be:
The financial information presented must be reliable and to make it happen should be information that can be proven to be true, i.e. information from which we can verify, than invented; be representative that is objective, where there is no manipulation of information that is verifiable.
The financial information has this quality when it impacts the economic decision making of those who use it. For information to be relevant should allow a proper understanding of the users of information, must serve as the basis for projections and show the most significant aspects of the entity recognized accounting basis.
The relative importance does not depend solely on the amount of a heading, also depends on the possibility that it influences the interpretation of the general users of financial information, for it considering all the circumstances surrounding the events that occur in the normal course operations of the Bank.
An essential quality of the financial information provided is to facilitate understanding for users of such information, it is useless to people who are in charge of preparing financial information, is the only one who is able to comprehend and understand what contains financial information.
It goes without saying that users of financial information should also have special interest in maintaining the ability to analyze and interpret this information and the only way to do that is with sufficient knowledge of economic activities occurring in the state.
For financial information is comparable, should allow users of information, the ability to identify and analyze the differences and similarities with the information of the same entity or other entities over time.
Comparability in the Economic Entity will obtain if we are consistent in time to apply the same accounting methods, the same criterion and prudential judgment, the same structure in the reports that are generated and when we use the same terminology.
If we achieve that financial reporting meets characteristics which we have mentioned previously, we will be fulfilling satisfactorily with the general purpose show us the standards financial reporting and that is to provide accurate and timely information that is useful for different users of information and to provide a basis for decision making.