Which characteristic is concerned with ensuring information is presented consistently over time?

The characteristic that ensures information is presented consistently over time is consistency. This principle allows users of financial statements to compare financial information across different periods. When an entity applies the same accounting methods and policies in each reporting period, it enhances the reliability and understandability of the information, making it easier for stakeholders to identify trends and patterns in the financial data.

For instance, if a company changes its method of revenue recognition from one year to the next without disclosing the change, it would hinder the comparability of its financial statements over time and mislead users. Therefore, the consistency characteristic plays a crucial role in financial reporting by promoting the stability and reliability of financial information that users can trust to make informed decisions.

While comparability relates to the ability to compare financial statements of different entities, relevance pertains to the applicability of the information to users' decision-making, and faithful representation focuses on the accuracy and completeness of the information presented. These characteristics are essential but serve different purposes in financial reporting. Consistency stands out specifically for its role in maintaining uniformity in reporting periods.