According to the conceptual framework, for accounting information to be relevant, it should possess Confirmatory value and Predictive value.
Relevance is a term used to describe how useful the information is when making financial decisions. Accounting information must have the following qualities to be relevant:
Therefore, accounting information is important if it can aid with past event analysis, future event prediction, or taking action to address potential future events. When deciding whether to extend or increase the amount of credit available to a company, for instance, creditors may consider the company's performance during a great quarter.
To know more about Accounting information refer:
https://brainly.com/question/24130447
#SPJ4
