Substance over form: Difference between revisions
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imported>Doug Williamson (Update for FRS 102) |
imported>Doug Williamson (Add link.) |
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== See also == | == See also == | ||
* [[FRS 102]] | * [[FRS 102]] | ||
* [[Off balance sheet]] | |||
Revision as of 20:42, 2 November 2016
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.
