Comparability is one of the qualitative characteristics of financial information, as outlined in the conceptual framework for financial reporting. Comparability refers to the extent to which financial information allows users to identify similarities and differences between different entities or periods.

In order to be comparable, financial information must be presented in a way that enables users to make meaningful comparisons. This means that financial information should be presented in a consistent manner over time, and should be presented using similar accounting policies and methods across different entities.

Comparability is important for several reasons:

1. It allows users to identify trends and changes in financial performance over time. If financial information is presented in a consistent manner over time, users can more easily identify changes in an entity's financial position or performance.
2. It allows users to compare the financial performance of different entities. If financial information is presented using similar accounting policies and methods, users can more easily compare the financial performance of different entities.
3. It promotes transparency and accountability in financial reporting. If financial information is comparable, it is more likely that entities will provide accurate and complete information about their financial position and performance.

Overall, comparability is an important qualitative characteristic of financial information, as it helps to ensure that financial reporting is reliable, transparent, and comparable over time and across different entities.