Accounting concepts: Difference between revisions
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imported>Doug Williamson (Delete prudence from concepts list, following its replacement by Faithful representation and Neutrality.) |
imported>Doug Williamson m (Layout.) |
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A small number of fundamental concepts which underlie the completion of periodic financial accounts of businesses under generally accepted accounting practice. | A small number of fundamental concepts which underlie the completion of periodic financial accounts of businesses under generally accepted accounting practice. | ||
The concepts include | The concepts include: | ||
* accruals | |||
* consistency | |||
* disaggregation, and | |||
* going concern. | |||
Revision as of 11:47, 10 September 2020
A small number of fundamental concepts which underlie the completion of periodic financial accounts of businesses under generally accepted accounting practice.
The concepts include:
- accruals
- consistency
- disaggregation, and
- going concern.
