Prudence: Difference between revisions
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imported>Doug Williamson m (Category added 9/10/13) |
imported>Doug Williamson (Update to reflect the replacement of the 'prudence' concept with 'neutrality' in international financial reporting standards.) |
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''Accounting.'' | ''Accounting.'' | ||
The accounting | The accounting practice of recognising income and assets only when they are reasonably certain, whilst recognising expenses and liabilities whenever they are probable. | ||
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* [[Disaggregation]] | * [[Disaggregation]] | ||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 13:09, 28 September 2014
Accounting.
The accounting practice of recognising income and assets only when they are reasonably certain, whilst recognising expenses and liabilities whenever they are probable.
