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Account Concetti e Principi

  • Note di Apprendimento
  • Revisione degli argomenti
    BabaJide Martins F.
    TR
    BabaJide Martins F.

    It will help in understanding the nature of business and how to present financial report. Good topic.

    Morne V.
    ZA
    Morne V.

    Accounting concepts and principles are useful for the learners

    Thomas Haingura M.
    NA
    Thomas Haingura M.

    this what i wanted to know and its good for my study

    Odongo M.
    UG
    Odongo M.

    Accounting -> Accounting concepts and principles Accounting concepts and principles Accounting concepts are qualities that users expect to be present in financial reports. They form a conceptual framework defining the nature, subject, purpose and broad content of financial reporting. General accounting concepts Relevance Accounting information must be based on information directly related to the business being reported on. Reliability The accounting reports should represent an effective and faithful representation of financial events relating to the business. Materiality This concept requires that all significant events be included in financial reports. An event is regarded as material if it is likely to effect financial decisions. Comparability If accounting reports are to be compared from one reporting period to the next then the methods of accounting used must be consistent from one period to the next. Understandability It is of no value to present accounting reports which users are simply unable to understand. Constraint of timeliness Lack of timeliness acts as a constraint to achieving the above qualities in reporting. Timeliness indicates that reports are only of value if available within a reasonable time period.

    Nana Amankwah K.
    GH
    Nana Amankwah K.

    In other words Reliability can not be achieve without Materiality

    Manish K.
    NP
    Manish K.

    Accounting information is very important for making financial decisions.

    Davidson Ade O.
    NG
    Davidson Ade O.

    Accounting concepts must be relevance, reliable, materialize, understood timeliness, comparable

    Penelope M.
    US
    Penelope M.

    relevance reliability understandability comparability words to live by in life and business.

    Adil N.
    MA
    Adil N.

    What are some basic accounting principles?

    Gloria N.
    AE
    Gloria N.

    Accounting concepts are qualities that users expect to be present in financial reports. They form a conceptual framework defining the nature, subject, purpose and broad content of financial reporting.

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