Substance over form

From ACT Wiki
Revision as of 09:37, 13 March 2019 by imported>Doug Williamson (Add category.)
Jump to navigationJump to search

Accounting.

The accounting principle that financial transactions and financial relationships are dealt with and presented in accordance with their commercial substance.

(Even if this differs from the legal form of the transaction.)


Relevant accounting standards include Sections 2, 11, 12 and 23 of FRS 102.


See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Substance_over_form&oldid=45738’