Karteikarten
ACCN2 - Accounting Concepts
Karten in diesem Stapel (10)
- 1Business EntityTransactions recorded in an organisation’s accounts can only relate to that organisation.
- 2MaterialityAll information in the final accounts should be significant to the users of the statements
- 3CostAssets should be valued at cost.
Objective valuation rather than a matter of opinion - 4Going ConcernAccountants must assume that the business will continue trading for the foreseeable future
- 5AccuralsProfits should be calculated for a period of time. Revenue must be matched with the expenses incurred in earning that revenue in that period only.
- 6ConsistencyRequires a business to apply the same accounting procedures and policies from one financial period to the next.
- 7PrudenceWhere there is any doubt, assets and profits should be understated rather than overstated.
- 8RealisationRevenue should only be recognised when it is certain.
- 9ObjectivityWhenever possible accounting information should be factual rather than an opinion.
- 10Money Measurement ConceptEverything that must be measurable in cash.
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- Karteikarten am ACCN2 - Accounting Concepts, erstellt von emily-massey am 27/01/2015.
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- emily-massey
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