Answer
Reliability and relevance are the two essential characteristics of valuable accounting information. For information to be applicable, it ought to have feedback value or predicative value and must be presented in a timely manner. Relevant info has a hold on decision making and is capable of affecting the decision making process. Important information aids users in making accurate predictions.
Work Step by Step
Reliable information can be held true in representing the events and conditions expected for more accuracy. Reliability of information stems from verifiability, neutrality and faithfulness.
