0
Write short notes with suitable examples on Principle of income recognition and principles of full disclosure?
Wiki User
∙ 14y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How legislation and accounting concepts affect an organization accounting policies?
Describe how the legislation and accounting concepts affect an organisation's accounting policiesReporting methods, measurement systems, and disclosures used by a specific company. The accountant should evaluate the appropriateness of accounting policies employed by management. A description of the company's accounting policies should be presented in a separate section preceding the footnotes to the financial statements or as the first footnote. Disclosure of accounting policies should include Accounting Principles and methods of application that involve: (1) a selection from generally accepted alternatives; (2) those peculiar to the industry or field of endeavor; and (3) unusual or different applications of Generally Accepted Accounting Principles (GAAP). Examples of disclosures are basis of Consolidation, depreciation methods, and inventory pricing. Disclosure of accounting policies assists financial readers in better interpreting a company's financial statements. Thus it results in fair presentation of the financial statements.
Where might one find information on an equity method of accounting?
The best place to go to find information on an equity method of accounting would be an accounting textbook. Examples are Principles of Accounting, and Accounting Made Simple, which are both available on Amazon.
What is examples for Real Personal accounts?
Some examples for Real Accounts are cars and houses, while examples for Personal Accounts are credit cards.
Is Warranty Expense recognized the same period that sale revenue is recognized because of the conservatism principle?
No, that is the matching principle, which can be defined as: The costs of doing business are recorded in the same period as the revenue they help to generate. Examples of such costs include the cost of goods sold, salaries and commissions earned, insurance premiums, supplies used, and estimates for potential warranty work on the merchandise sold. Consider the wholesaler who delivered five hundred CDs to a store in April. These CDs change from an asset (inventory) to an expense (cost of goods sold) when the revenue is recognized so that the profit from the sale can be determined.
Examples of current asset?
Examples of current assets are cash(in hand or at bank),
What are the Examples of generally accepted accounting principles?
principles
What are the six principles of our Constitution and how do they protect the citizens of this country What are some examples of these principles in action Which is most important and why?
What are the six principles of our Constitution and how do they protect the citizens of this country What are some examples of these principles in action
What are the examples of principles in abstract noun?
Some example of abstract nouns that are principles are:democracydisciplinefreedomhonestyhonorintegrityjusticelibertyloyaltyvalor
What are three examples of bernoulli's principle?
airplanes
What are the 10 examples of principles of an abstract noun?
Some example of abstract nouns that are principles are:democracydisciplinefreedomhonestyhonorintegrityjusticelibertyloyaltyvalor
What are examples of Archimedes's principle?
A boat sailing on water.
What are some examples of Bernoulli's principle?
Airplanes and sailboats. :)
What are some examples of Archimedes principle?
A boat sailing on water
What is principle of closure in math?
Examples of the purpose of closure in math
Example of unity of direction principle?
examples of unity of direction?
What is the difference between Confidentialty agreement and Non disclosure agreement?
They are the same thing. See the link below for a discussion and examples.
Texas and the Mexican Cession were examples of what American principle?
Manifest Destiny.
