Accounting Principles: a chosen set of accounting conventions that must be applied consistently if company accounts are to be useful to observers. These include: matching costs to related revenues; valuing assets with prudence; making the assumption that the firm is a going concern; and establishing accounting rules to ensure objectivity, i.e. minimizing personal judgement in the drawing up of accounts.
More Posts
-
Cover Letter for Assistant Restaurant Manager
-
Benefits of Computer-based Information System
-
Debit Note definition in terms of Recording of Transactions
-
Benefits of Performance Appraisal
-
Boundary Between the Heliosphere and Interstellar Space has been Mapped for the First Time
-
The limitations of Bohr’s atomic model
Latest Post
-
Top QS World University Rankings 2024
-
Nano-oscillator Achieves Record Quality Factor
-
Not Only Do Opposites Attract: A New Study Demonstrates That Like-Charged Particles Can Come Together
-
A Breakthrough in Single-photon Integration Shows Promise for Quantum Computing and Cryptography
-
Could the Sun be Conscious? Enter the Unorthodox World of Panpsychism
-
The Brains of Conspiracy Theorists Are Different: Here’s How