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 Post
Latest Post
-
Seeing the Wood For the Trees: Archaeologists Use Hazelnuts to Rebuild Ancient Woods
-
Genetic Research Shows a Stone Age Approach to Preventing Inbreeding
-
The Use of a Decimal Point is 1.5 Centuries Older Than Historians Believed
-
Snakes are the New, High-Protein Superfood
-
The Newly Discovered Fossil of a Huge Turtle is Named After a Character in Stephen King’s Novel
-
A New Study Shows How Changing Protein Folding Causes Multicellular Evolution