True and fair view

1. Financial reporting - accounting concepts.

By law financial statements must give a 'true and fair view'.

This phrase is undefined but depends upon both the application of generally accepted accounting principles and the exercise of judgement.

2. Other reporting - environmental concerns.

Similar principles in other reporting contexts.

For example, the true and fair reporting of greenhouse gas emissions under the Greenhouse Gas Protocol.

See also

• Accounting concepts
• Accounting policies
• Accruals concept
• Consistency
• Disaggregation
• Generally accepted accounting principles
• GHG inventory
• Going concern
• Greenhouse Gas Protocol
• Judgement
• Prudence