According to the FASB hierarchy of qualitative characteristics, the two primary qualities making accounting information useful are

A) understandability and decision usefulness
B) relevance and reliability
C) verifiability and neutrality
D) predictive value and feedback value

Qualitative Characteristics

These are the attributes that make the information provided in financial statements useful to users.

Understandability

A characteristic of financial information that makes it comprehensible to those with a reasonable knowledge of business and economic activities.

Decision Usefulness

A principle in accounting that information should help users make decisions regarding their investments, credit, and similar considerations.