What are the qualitative characteristics of useful financial information as per Conceptual Framework of IAS/IFRS?

Comparability, Reliability, cosistency.

i don't know

The qualitative charcteristics of useful financial reporting identify the types of in­for­ma­tion are likely to be most useful to users in making decisions about the reporting entity on the basis of in­for­ma­tion in its financial report. The financial in­for­ma­tion is useful when it is relevant and rep­re­sents faith­fully what it purports to represent. The use­ful­ness of financial in­for­ma­tion is enhanced if it is com­pa­ra­ble, ver­i­fi­able, timely and un­der­stand­able.

Useful financial information should provide the users both internal and external a guidance on how to allocate scarce resources efficiently, so it should contain, just to name some as consistency, reliability, comparability, comprehensibility and other characteristics.

The "Objective and Qualitative Characteristics" phase is part of the Conceptual Framework project.

The Conceptual Framework sets out the concepts that underlie the preparation and presentation of financial statements. It is a practical tool that assists the IASB when developing and revising IFRSs. The objective of the Conceptual Framework project is to improve financial reporting by providing the IASB with a complete and updated set of concepts to use when it develops or revises standards.

Qualitative characteristics of useful financial information/reporting identify the types of information are likely to be most useful to users in making decision about the reporting entity on the basis of information in its financial reports. The characteristics are:

i-  Fundamental Characteristics

                      a- Relevance

                     b- Faithful Representation

ii- Enhancing Qualitative Characteristics

                    a-  Comparability

                    b-  Varifiability

                    c- Timeliness

                   d- Understandability

The above four (Ccomarability, varifiability, timeliness and understandability enhance the usefulness of  information that is relevant and faithfully represented.