Neutrality: Difference between revisions
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''Financial reporting - accounting concepts.'' | 1. ''Financial reporting - accounting concepts.'' | ||
In financial reporting, neutrality means avoiding bias of any kind. | In financial reporting, neutrality means avoiding bias of any kind. | ||
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In turn, a neutral representation is supported by prudence. | In turn, a neutral representation is supported by prudence. | ||
2. ''Tax - regulation.'' | |||
Regulation in a tax regime - or a regulatory regime - means not distorting markets or decision making by unequal treatment of alternative structures of courses of action. | |||
== See also == | == See also == | ||
* [[Accruals | * [[Accruals accounting]] | ||
* [[Conceptual framework]] | * [[Conceptual framework]] | ||
* [[Faithful representation]] | * [[Faithful representation]] | ||
* [[Financial reporting]] | |||
* [[Neutral]] | |||
* [[Prudence]] | * [[Prudence]] | ||
* [[Relevance]] | * [[Relevance]] | ||
* [[Substance over form]] | * [[Substance over form]] | ||
* [[Tax Foundation]] | |||
* [[Tax neutral]] | |||
* [[Useful financial information]] | * [[Useful financial information]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 12:38, 29 November 2023
1. Financial reporting - accounting concepts.
In financial reporting, neutrality means avoiding bias of any kind.
Under the IFRS Conceptual Framework, neutrality is an essential component of 'faithful representation'.
In turn, a neutral representation is supported by prudence.
2. Tax - regulation.
Regulation in a tax regime - or a regulatory regime - means not distorting markets or decision making by unequal treatment of alternative structures of courses of action.
