Qualitative characteristics & accounting principles slide show game
•Download as PPTX, PDF•
0 likes•471 views
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles mentioned are the entity principle, going concern principle, reporting period principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide the framework for preparing and presenting financial reports.
Report
Share
Report
Share
Recommended
Proyectogatoconbotasfinal
Este documento presenta un plan de profundización del cuento "El gato con botas" dirigido a estudiantes de 4to grado. El plan incluye objetivos comunicativos, didácticos y de aprendizaje relacionados con la oralidad, la lectura, la escritura y la literatura. Propone actividades como la lectura del cuento, análisis de personajes, producción de resúmenes y escritos propios, con el objetivo final de crear una nueva versión del cuento.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles mentioned are the entity principle, going concern principle, reporting period principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide the framework for preparing and presenting financial reports.
Un portal del conocimiento
Este documento resume varios temas relacionados con sistemas de información gerencial e inteligencia artificial. Presenta información sobre la implementación de un sistema de información en la compañía Deacons para compartir conocimiento entre empleados. También explica brevemente conceptos como inteligencia artificial, sistemas expertos y sus beneficios para las organizaciones.
Inspecta Certification and Re-Certification
Inspecta Folder on Certification and Re-Certification of personnel, equipment and procedures to increase quality and security. Inspecta provides expertise, advice and opportunities.
research v
Vodafone has implemented a Code of Ethical Purchasing that its suppliers must comply with. The code aims to promote safe, fair working conditions and responsible management of social and environmental issues throughout Vodafone's supply chain. It covers issues like child labor, forced labor, health and safety, freedom of association, discrimination, working hours and environment. Vodafone will audit suppliers and work with them to continuously improve compliance with the code.
Inspecta presentation Norway
Inspecta give you a short presentation of our vision, business idea and values, why you should coose Inspecta and what we do, our managing directors thoughts of the future and the role of recertification
Recommended
Proyectogatoconbotasfinal
Este documento presenta un plan de profundización del cuento "El gato con botas" dirigido a estudiantes de 4to grado. El plan incluye objetivos comunicativos, didácticos y de aprendizaje relacionados con la oralidad, la lectura, la escritura y la literatura. Propone actividades como la lectura del cuento, análisis de personajes, producción de resúmenes y escritos propios, con el objetivo final de crear una nueva versión del cuento.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles mentioned are the entity principle, going concern principle, reporting period principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide the framework for preparing and presenting financial reports.
Un portal del conocimiento
Este documento resume varios temas relacionados con sistemas de información gerencial e inteligencia artificial. Presenta información sobre la implementación de un sistema de información en la compañía Deacons para compartir conocimiento entre empleados. También explica brevemente conceptos como inteligencia artificial, sistemas expertos y sus beneficios para las organizaciones.
Inspecta Certification and Re-Certification
Inspecta Folder on Certification and Re-Certification of personnel, equipment and procedures to increase quality and security. Inspecta provides expertise, advice and opportunities.
research v
Vodafone has implemented a Code of Ethical Purchasing that its suppliers must comply with. The code aims to promote safe, fair working conditions and responsible management of social and environmental issues throughout Vodafone's supply chain. It covers issues like child labor, forced labor, health and safety, freedom of association, discrimination, working hours and environment. Vodafone will audit suppliers and work with them to continuously improve compliance with the code.
Inspecta presentation Norway
Inspecta give you a short presentation of our vision, business idea and values, why you should coose Inspecta and what we do, our managing directors thoughts of the future and the role of recertification
FUCK UP! Облажаться и сделать из этого вывод — #CampusKazan2016
Доклад о процессах Alto Vision и их изменениях на основе анализа совершенных ошибок.
Inspecta OTD presentation
Interested to learn how Inspecta can help you? We invited customers and partners to a presentation of Certification. Topics in the attached Slideshare is:
- Inspecta Overview
- Integrity Engineering
- Definition and lifecycle perspective
- Design verification and optimization
- Revisions, Fitness-for-service evaluation, Inspection planning
- Non-Intrusive Inspection (NII)
- Examples of Assignments and Projects
Balance sheets
The document discusses balance sheets, which summarize a business's assets, liabilities, and owner's equity at a point in time. The accounting equation of assets = liabilities + owner's equity must always balance. Assets are resources expected to provide future economic benefits, while liabilities are obligations that will require an outflow of resources. Owner's equity is the residual claim on assets after deducting liabilities. The balance sheet classifies items as current or non-current based on their liquidity or due dates within one year. Transactions affect the balance sheet by changing asset, liability, or equity account balances in a way that maintains the accounting equation. Assets are recorded on the balance sheet at their original historical cost.
Succeeding in the Mobility Game
http://bit.ly/MicrosoftCRMfreeTrial - - - - - This free no-obligation 30 day trial below allows you to kick-off your MS Dynamics CRM review and test Microsoft’s CRM system for 30 days at no charge.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles discussed are the entity principle, going concern principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide guidance on how transactions should be recorded and reported.
Macro, operating and internal environments
The document discusses the macro, operating, and internal environments that affect businesses. The internal environment includes employees, managers, corporate culture, and company policies. The operating environment consists of suppliers, customers, competitors, and interest groups. The macro environment comprises the economic, political, social, technological, and legal conditions in a country. Businesses must analyze how these uncontrollable external factors influence their operations.
Business concept development
The document provides guidance on developing a business concept, noting that it is important to conduct market research to determine if there is customer interest and demand for the product or service idea, identify competitors, and evaluate the feasibility of the business concept. It also outlines several questions to consider such as defining the product or service, assessing market potential and financial capacity, and determining needed skills. The document stresses analyzing these factors before getting started in order to increase the chances of business success.
Tumor Lysis Syndrome - Final
Tumor lysis syndrome (TLS) is a metabolic complication that can occur when large numbers of malignant cells are rapidly destroyed, releasing their intracellular contents into the bloodstream. This disrupts electrolyte levels and can damage organs like the kidneys, heart, and brain. TLS is treated with intravenous fluids, medications to lower uric acid, phosphate, and potassium levels, and sometimes dialysis. Patients at highest risk are those with highly chemosensitive tumors undergoing new chemotherapy. Close monitoring and preventative measures like hydration and anti-hyperuricemic drugs before and after treatment can help reduce risks of TLS in at-risk patients.
Accounting Concepts and Conventions
This document discusses key accounting concepts and conventions. It defines accounting and outlines concepts such as the business entity, going concern, money measurement, dual aspect, accounting period, cost, realization, matching, and accrual. It also discusses conventions like full disclosure, consistency, materiality, and conservatism. The concepts and conventions establish the principles and framework for recording, classifying, and reporting financial information about economic entities.
Principles of accounting abu saleh chand
This document provides an overview of accounting principles and the conceptual framework used in financial reporting. It discusses the key topics of generally accepted accounting principles set by the FASB, the objectives of providing useful financial information, qualitative characteristics like relevance and reliability, elements in financial statements, and operating guidelines including assumptions, principles, and constraints. The conceptual framework developed by the FASB serves as the basis for resolving accounting problems and consists of these important components.
Generally accepted accounting principal
This document summarizes 8 accounting principles:
1. Cost principle - Assets are recorded at their cost at the time of acquisition.
2. Objective principle - Assets valuation is factual and can be verified independently.
3. Going concern principle - Transactions are recorded with the assumption the business will continue operating.
4. Full disclosure principle - All information affecting the financial statements must be disclosed.
5. Matching principle - Revenue and costs are matched in the appropriate accounting period.
6. Realization principle - Accounting records past transactions, it does not anticipate future events.
7. Business entity principle - The business is treated as separate from its owners.
8. Stable dollar assumption - The
Welcome to week 1 revised.pptx
This document provides an introduction to financial accounting. It defines accounting as identifying, analyzing, and recording economic transactions to produce financial reports. The goal of accounting is to provide useful information to decision makers. It discusses the basic forms of business (proprietorship, partnership, corporation) and notes that a proprietorship has unlimited liability. The document introduces Generally Accepted Accounting Principles (GAAP) and the qualitative characteristics and principles that guide accounting practices, such as relevance and consistency. It lists the four basic financial statements and notes that upcoming sessions will cover the income statement.
Chapter 1 management accounting
Management accounting provides information to managers for planning, decision making, performance evaluation, and control. It deals with internal reporting for managers as opposed to financial accounting which prepares external financial reports for stakeholders. Some key differences are that management accounting is not confined to only financial data, focuses on future forecasts and budgets, and helps managers control operations. It covers areas like cost accounting, decision analysis, performance evaluation, and budgeting.
3. gaap
Generally Accepted Accounting Principles (GAAP) are the standards and procedures companies use to compile their financial statements. GAAP include authoritative standards set by policy boards as well as commonly accepted practices. Companies must follow GAAP when reporting financial data to provide consistency for investors. Major components of GAAP include basic principles like the entity principle and matching principle, assumptions like going concern and stable dollar, and standards like objectivity, consistency, and conservatism.
Accounting Courses in chandigarh.pptx...
The fundamental rules and guidelines that govern financial reporting.
Ensure information is consistent, reliable, and comparable across companies.
Issued by organizations like the Financial Accounting Standards Board (FASB).
Provide a standardized framework for recording and presenting transactions.
Aim to increase transparency and reduce subjectivity in financial reporting.
Provide a clear definition of accounting principles. Stress their importance in promoting accuracy and credibility within the financial world.
Acc princ
The document outlines several key accounting concepts:
1) The going concern concept assumes a company will continue operating to achieve its objectives, affecting depreciation and asset valuation.
2) The revenue recognition principle states revenue should be recognized when earned, usually at the point of sale.
3) The cost principle dictates assets be recorded at cost, which is relevant and reliable.
Accounting basis 2
Global Leadership University provides lectures on accounting principles and concepts. The lectures cover topics such as the conceptual framework of accounting, accounting information, revenue recognition, the matching principle, and accrual basis versus cash basis accounting. Generally accepted accounting principles provide standards and rules for financial reporting and the Financial Accounting Standards Board is responsible for developing these principles.
accounting mcq
The document discusses several key accounting concepts:
- Going concern assumes the business will continue indefinitely and financial statements are prepared on this basis. If not applicable, it must be disclosed.
- Accruals recognizes transactions when they occur rather than when cash is received/paid to show the true trading position undistorted by cash flows.
- Reliability means financial statements are free from material error or bias.
- Prudence involves exercising caution when making judgments under conditions of uncertainty.
- Neutrality means financial statements are free from bias and do not distort performance or position.
- Comparability allows comparison of results over time and between entities by applying policies consistently.
Public Sector accounting.pptx
The document discusses the key principles of government accounting, including the basis of accounting (cash vs accrual basis). It provides examples of how transactions are recorded under each method. The cash basis recognizes revenue/expenses when cash is received/paid, while the accrual basis recognizes them when earned/incurred regardless of cash flow. The document also outlines the major accounting principles such as economic entity, going concern, matching, monetary unit, cost, revenue recognition, time period, conservatism, consistency, full disclosure, reliability, and materiality. It explains what each principle means and how it impacts financial reporting.
accountingconceptsconventions-091002014324-phpapp02.ppt
This document discusses key accounting concepts and conventions. It explains 11 accounting concepts including business entity, money measurement, going concern, accounting period, historical cost, dual aspect, revenue recognition, matching, accrual, objectivity and timeliness. It also discusses 4 accounting conventions: full disclosure, consistency, conservatism and materiality. The concepts provide the foundation for accounting and financial reporting while the conventions are generally accepted practices adopted by accountants. The document differentiates between concepts, which are established by law, and conventions, which are based on customs.
(MBA SEM 1) SEM 1 Accounting Principles.pptx
Accounting principles provide guidelines for sound accounting practices and procedures. They aim to ensure uniformity and easy understanding of financial information.
There are two main categories of accounting principles: concepts and conventions. Concepts are basic assumptions used as a foundation for recording transactions, while conventions are customs that guide financial statement preparation.
Key concepts include business entity, money measurement, cost, going concern, dual aspect, realization, accrual, accounting period, and matching. Important conventions are consistency, conservatism, full disclosure, and materiality. Consistency provides comparability over time, while conservatism plays it safe and avoids overstating values. Full disclosure and materiality aim to make financial statements complete and understandable.
Day 3.pptx
This document provides an overview of double entry accounting and basic accounting concepts and conventions. It discusses key concepts such as the dual aspect concept, matching concept, accrual concept, and conventions like consistency and materiality. Double entry accounting is based on the idea that every transaction has a debit and credit. Basic accounting concepts establish guidelines for recording financial information, such as measuring transactions in monetary terms and treating the business as a separate entity from its owners.
More Related Content
Viewers also liked
FUCK UP! Облажаться и сделать из этого вывод — #CampusKazan2016
Доклад о процессах Alto Vision и их изменениях на основе анализа совершенных ошибок.
Inspecta OTD presentation
Interested to learn how Inspecta can help you? We invited customers and partners to a presentation of Certification. Topics in the attached Slideshare is:
- Inspecta Overview
- Integrity Engineering
- Definition and lifecycle perspective
- Design verification and optimization
- Revisions, Fitness-for-service evaluation, Inspection planning
- Non-Intrusive Inspection (NII)
- Examples of Assignments and Projects
Balance sheets
The document discusses balance sheets, which summarize a business's assets, liabilities, and owner's equity at a point in time. The accounting equation of assets = liabilities + owner's equity must always balance. Assets are resources expected to provide future economic benefits, while liabilities are obligations that will require an outflow of resources. Owner's equity is the residual claim on assets after deducting liabilities. The balance sheet classifies items as current or non-current based on their liquidity or due dates within one year. Transactions affect the balance sheet by changing asset, liability, or equity account balances in a way that maintains the accounting equation. Assets are recorded on the balance sheet at their original historical cost.
Succeeding in the Mobility Game
http://bit.ly/MicrosoftCRMfreeTrial - - - - - This free no-obligation 30 day trial below allows you to kick-off your MS Dynamics CRM review and test Microsoft’s CRM system for 30 days at no charge.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles discussed are the entity principle, going concern principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide guidance on how transactions should be recorded and reported.
Macro, operating and internal environments
The document discusses the macro, operating, and internal environments that affect businesses. The internal environment includes employees, managers, corporate culture, and company policies. The operating environment consists of suppliers, customers, competitors, and interest groups. The macro environment comprises the economic, political, social, technological, and legal conditions in a country. Businesses must analyze how these uncontrollable external factors influence their operations.
Business concept development
The document provides guidance on developing a business concept, noting that it is important to conduct market research to determine if there is customer interest and demand for the product or service idea, identify competitors, and evaluate the feasibility of the business concept. It also outlines several questions to consider such as defining the product or service, assessing market potential and financial capacity, and determining needed skills. The document stresses analyzing these factors before getting started in order to increase the chances of business success.
Tumor Lysis Syndrome - Final
Tumor lysis syndrome (TLS) is a metabolic complication that can occur when large numbers of malignant cells are rapidly destroyed, releasing their intracellular contents into the bloodstream. This disrupts electrolyte levels and can damage organs like the kidneys, heart, and brain. TLS is treated with intravenous fluids, medications to lower uric acid, phosphate, and potassium levels, and sometimes dialysis. Patients at highest risk are those with highly chemosensitive tumors undergoing new chemotherapy. Close monitoring and preventative measures like hydration and anti-hyperuricemic drugs before and after treatment can help reduce risks of TLS in at-risk patients.
Viewers also liked (8)
FUCK UP! Облажаться и сделать из этого вывод — #CampusKazan2016
FUCK UP! Облажаться и сделать из этого вывод — #CampusKazan2016
Qualitative characteristics & accounting principles slide show game
Qualitative characteristics & accounting principles slide show game
Similar to Qualitative characteristics & accounting principles slide show game
Accounting Concepts and Conventions
This document discusses key accounting concepts and conventions. It defines accounting and outlines concepts such as the business entity, going concern, money measurement, dual aspect, accounting period, cost, realization, matching, and accrual. It also discusses conventions like full disclosure, consistency, materiality, and conservatism. The concepts and conventions establish the principles and framework for recording, classifying, and reporting financial information about economic entities.
Principles of accounting abu saleh chand
This document provides an overview of accounting principles and the conceptual framework used in financial reporting. It discusses the key topics of generally accepted accounting principles set by the FASB, the objectives of providing useful financial information, qualitative characteristics like relevance and reliability, elements in financial statements, and operating guidelines including assumptions, principles, and constraints. The conceptual framework developed by the FASB serves as the basis for resolving accounting problems and consists of these important components.
Generally accepted accounting principal
This document summarizes 8 accounting principles:
1. Cost principle - Assets are recorded at their cost at the time of acquisition.
2. Objective principle - Assets valuation is factual and can be verified independently.
3. Going concern principle - Transactions are recorded with the assumption the business will continue operating.
4. Full disclosure principle - All information affecting the financial statements must be disclosed.
5. Matching principle - Revenue and costs are matched in the appropriate accounting period.
6. Realization principle - Accounting records past transactions, it does not anticipate future events.
7. Business entity principle - The business is treated as separate from its owners.
8. Stable dollar assumption - The
Welcome to week 1 revised.pptx
This document provides an introduction to financial accounting. It defines accounting as identifying, analyzing, and recording economic transactions to produce financial reports. The goal of accounting is to provide useful information to decision makers. It discusses the basic forms of business (proprietorship, partnership, corporation) and notes that a proprietorship has unlimited liability. The document introduces Generally Accepted Accounting Principles (GAAP) and the qualitative characteristics and principles that guide accounting practices, such as relevance and consistency. It lists the four basic financial statements and notes that upcoming sessions will cover the income statement.
Chapter 1 management accounting
Management accounting provides information to managers for planning, decision making, performance evaluation, and control. It deals with internal reporting for managers as opposed to financial accounting which prepares external financial reports for stakeholders. Some key differences are that management accounting is not confined to only financial data, focuses on future forecasts and budgets, and helps managers control operations. It covers areas like cost accounting, decision analysis, performance evaluation, and budgeting.
3. gaap
Generally Accepted Accounting Principles (GAAP) are the standards and procedures companies use to compile their financial statements. GAAP include authoritative standards set by policy boards as well as commonly accepted practices. Companies must follow GAAP when reporting financial data to provide consistency for investors. Major components of GAAP include basic principles like the entity principle and matching principle, assumptions like going concern and stable dollar, and standards like objectivity, consistency, and conservatism.
Accounting Courses in chandigarh.pptx...
The fundamental rules and guidelines that govern financial reporting.
Ensure information is consistent, reliable, and comparable across companies.
Issued by organizations like the Financial Accounting Standards Board (FASB).
Provide a standardized framework for recording and presenting transactions.
Aim to increase transparency and reduce subjectivity in financial reporting.
Provide a clear definition of accounting principles. Stress their importance in promoting accuracy and credibility within the financial world.
Acc princ
The document outlines several key accounting concepts:
1) The going concern concept assumes a company will continue operating to achieve its objectives, affecting depreciation and asset valuation.
2) The revenue recognition principle states revenue should be recognized when earned, usually at the point of sale.
3) The cost principle dictates assets be recorded at cost, which is relevant and reliable.
Accounting basis 2
Global Leadership University provides lectures on accounting principles and concepts. The lectures cover topics such as the conceptual framework of accounting, accounting information, revenue recognition, the matching principle, and accrual basis versus cash basis accounting. Generally accepted accounting principles provide standards and rules for financial reporting and the Financial Accounting Standards Board is responsible for developing these principles.
accounting mcq
The document discusses several key accounting concepts:
- Going concern assumes the business will continue indefinitely and financial statements are prepared on this basis. If not applicable, it must be disclosed.
- Accruals recognizes transactions when they occur rather than when cash is received/paid to show the true trading position undistorted by cash flows.
- Reliability means financial statements are free from material error or bias.
- Prudence involves exercising caution when making judgments under conditions of uncertainty.
- Neutrality means financial statements are free from bias and do not distort performance or position.
- Comparability allows comparison of results over time and between entities by applying policies consistently.
Public Sector accounting.pptx
The document discusses the key principles of government accounting, including the basis of accounting (cash vs accrual basis). It provides examples of how transactions are recorded under each method. The cash basis recognizes revenue/expenses when cash is received/paid, while the accrual basis recognizes them when earned/incurred regardless of cash flow. The document also outlines the major accounting principles such as economic entity, going concern, matching, monetary unit, cost, revenue recognition, time period, conservatism, consistency, full disclosure, reliability, and materiality. It explains what each principle means and how it impacts financial reporting.
accountingconceptsconventions-091002014324-phpapp02.ppt
This document discusses key accounting concepts and conventions. It explains 11 accounting concepts including business entity, money measurement, going concern, accounting period, historical cost, dual aspect, revenue recognition, matching, accrual, objectivity and timeliness. It also discusses 4 accounting conventions: full disclosure, consistency, conservatism and materiality. The concepts provide the foundation for accounting and financial reporting while the conventions are generally accepted practices adopted by accountants. The document differentiates between concepts, which are established by law, and conventions, which are based on customs.
(MBA SEM 1) SEM 1 Accounting Principles.pptx
Accounting principles provide guidelines for sound accounting practices and procedures. They aim to ensure uniformity and easy understanding of financial information.
There are two main categories of accounting principles: concepts and conventions. Concepts are basic assumptions used as a foundation for recording transactions, while conventions are customs that guide financial statement preparation.
Key concepts include business entity, money measurement, cost, going concern, dual aspect, realization, accrual, accounting period, and matching. Important conventions are consistency, conservatism, full disclosure, and materiality. Consistency provides comparability over time, while conservatism plays it safe and avoids overstating values. Full disclosure and materiality aim to make financial statements complete and understandable.
Day 3.pptx
This document provides an overview of double entry accounting and basic accounting concepts and conventions. It discusses key concepts such as the dual aspect concept, matching concept, accrual concept, and conventions like consistency and materiality. Double entry accounting is based on the idea that every transaction has a debit and credit. Basic accounting concepts establish guidelines for recording financial information, such as measuring transactions in monetary terms and treating the business as a separate entity from its owners.
6.Concept & Convention.pptx
Generally accepted accounting principles and accounting concepts and conventions provide guidelines for accurately recording and reporting financial information. GAAP are the commonly accepted standards for preparing financial statements. Accounting is based on basic assumptions like business entity, going concern, and money measurement concepts. Key principles include revenue recognition, matching revenues and expenses, and full disclosure. Concepts like materiality, consistency and conservatism also guide the application of accounting standards.
Accounting assumptions
Basic standard accounting assumptions
Read this for more :
What is Going Concern ?
The financial statements are normally prepared on the assumption that an enterprise will continue in operation in the foreseeable future and neither there is intention, nor there is need to materially curtail the scale of operations. Going concern assumption is not likely to be compatible with the intention or necessity to enter into a scheme of arrangement with the enterprise’s creditors or to liquidate in near future.
Financial statements prepared on going concern basis recognise among other things the need for sufficient retention of profit to replace assets consumed in operation and for making adequate provision for settlement of its liabilities. If any financial statement is prepared on a different basis, e.g. when assets of an enterprise are stated at net realisable values in its financial statements, the basis used should be disclosed.
What is Consistency ?
The principle of consistency refers to the practice of using same accounting policies for similar transactions in all accounting periods. The consistency improves comparability of financial statements through time. An accounting policy can be changed if the change is required (i) by a statute (ii) by an accounting standard (iii) for more appropriate presentation of financial statements.
What is Accrual basis of accounting ?
Under this basis of accounting, transactions are recognised as soon as they occur, whether or not cash or cash equivalent is actually received or paid. Accrual basis ensures better matching between revenue and cost and profit/loss obtained on this basis reflects activities of the enterprise during an accounting period, rather than cash flows generated by it.
While accrual basis is a more logical approach to profit determination than the cash basis of accounting, it exposes an enterprise to the risk of recognising an income before actual receipt. The accrual basis can therefore overstate the divisible profits and dividend decisions based on such overstated profit lead to erosion of capital. For this reason, accounting standards require that no revenue should be recognised unless the amount of consideration and actual realisation of the consideration is reasonably certain.
Accounting Principles.pptx
This document discusses key accounting concepts and principles, including:
- The business entity concept which treats a business separately from its owners.
- Generally Accepted Accounting Principles (GAAP) which are commonly followed rules and standards for financial reporting.
- Key accounting concepts like dual aspect, going concern, matching, and accrual which provide the framework for recording and reporting financial information.
4 acounting principle
This document discusses key accounting principles and concepts. It defines generally accepted accounting principles (GAAP) as principles that have substantial authoritative support and general acceptability. It classifies accounting principles into concepts and conventions. Some key concepts discussed include going concern, consistency, and accrual assumptions as well as the accounting entity, money measurement, matching, and revenue recognition principles. The document also explains conventions like materiality, conservatism, and the dual aspect principle.
6. List and define the underlying conditions, or assumptions, which .pdf
6. List and define the underlying conditions, or assumptions, which have had an impact on the
development of GAAP.
Solution
ANSWER:
The underlying conditions/ assumptions, which have had an impact on the development of
GAAP are as follows:
--Business entity: The company for which the financial statements are prepared is distinct and
separate from the owners.
--Going concern or continuity : The assumption is made that the organisation will remain in
business for an indefinite time frame.
--Monetary unit : Accountants requires certain standard of measure to bring financial
transactions together in an appropriate way.
--Realization: Revenue must be recognized when the earning process is virtually complete and
the exchange value need to be objectively determined
--Matching: This concept states to recognize the costs that are related with the recognized
revenue
--Full disclosure: Accounting reports must disclose all facts that may influence the judgment of
an informed reader
--Materiality: The approach involves the relative size and importance of an item to a business.
--Verifiability: The accountant need to adhere as closely as possible to verifiable data.
--Industry practices: Few business use accounting reports that do not conform to the general
theory that underlies accounting
--Transaction approach : The accountant records only events that affect the business financial
position and also can be reasonably determined in monetary terms.
--Accrual basis: Expenses need to recognized when incurred (matching concept), and revenue
are to be recognized when it is realized (realization concept), and
--Consistency: The business must give the similar treatment to comparable transactions from
period to period
--Conservatism : The measurement with the least favorable effect on financial position and net
income in the current period need to be selected.
--Historical cost : Of the numerous values that could be used, the objective and determinable
value should be selected
-- Time period With this assumption, inaccuracies of accounting for entity short of its complete
life span are accepted..
Theory base of accounting, AS & IFRS
The document discusses the results of a study on the effects of exercise on memory and thinking abilities in older adults. The study found that regular exercise can help reduce the decline in thinking abilities that often occurs with age. Older adults who exercised regularly performed better on memory and thinking tests compared to those who did not exercise regularly. Regular exercise may help the brain work better and may reduce the risk of developing Alzheimer's disease or other dementias.
Similar to Qualitative characteristics & accounting principles slide show game (20)
accountingconceptsconventions-091002014324-phpapp02.ppt
accountingconceptsconventions-091002014324-phpapp02.ppt
6. List and define the underlying conditions, or assumptions, which .pdf
6. List and define the underlying conditions, or assumptions, which .pdf
Recently uploaded
一比一原版(QMUE毕业证书)英国爱丁堡玛格丽特女王大学毕业证文凭如何办理
永久可查学历认证【微信：A575476】【(QMUE毕业证书)英国爱丁堡玛格丽特女王大学毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
The Genesis of BriansClub.cm Famous Dark WEb Platform
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Part 2 Deep Dive: Navigating the 2024 Slowdown
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
The latest Heat Pump Manual from Newentide
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Transport Solution
Call8328958814 satta matka Kalyan result satta guessing
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdf
In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Digital Transformation Frameworks: Driving Digital Excellence
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Income Tax exemption for Start up : Section 80 IAC
A presentation on the concept of Exemption of Profits of Start ups from Income Tax
Negotiation & Presentation Skills regarding steps in business communication, ...
Business Communication & presentation Skills, Negotiation Skills
一比一原版新西兰奥塔哥大学毕业证（otago毕业证）如何办理
一模一样【微信：A575476】【新西兰奥塔哥大学毕业证（otago毕业证）成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Cover Story - China's Investment Leader - Dr. Alyce SU
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka Indian satta Matka Dpboss Matka Kalyan Chart Matka Boss otg matka Guessing Satta Recently uploaded (20)
The Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb Platform
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Call8328958814 satta matka Kalyan result satta guessing
Call8328958814 satta matka Kalyan result satta guessing
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdf
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdf
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...
Digital Transformation Frameworks: Driving Digital Excellence
Digital Transformation Frameworks: Driving Digital Excellence
Income Tax exemption for Start up : Section 80 IAC
Income Tax exemption for Start up : Section 80 IAC
Negotiation & Presentation Skills regarding steps in business communication, ...
Negotiation & Presentation Skills regarding steps in business communication, ...
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
Cover Story - China's Investment Leader - Dr. Alyce SU
Cover Story - China's Investment Leader - Dr. Alyce SU
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Best Competitive Marble Pricing in Dubai - ☎ 9928909666
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Satta Matka
Qualitative characteristics & accounting principles slide show game
- 1. Qualitative Characteristics & Accounting Principles
- 2. QUALITATIVE CHARACTISTICS ACCOUNTING PRINICPLES
- 3. QUALITATIVE CHARACTERISTICS (CURR) • Comparability • Understandability • Relevance • Reliability Back
- 4. COMPARABILITY Reports should be able to compared over time through the use of consistent accounting procedures Back
- 5. UNDERSTANDABILITY Reports should be presented in a manner that makes it easy for the user to comprehended their meaning. Back
- 6. RELEVANCE Reports should include all information which is useful for decision-making Back
- 7. RELIABILITY Reports should contain information verified by source document evidence so that it is free from bias Back
- 8. ACCOUNTING PRINCIPLES • Entity Principle • Going concern principle • Reporting period principle • Historical Cost principle • Consistency principle • Conservatism principle • Monetary principle Back
- 9. ENTITY PRINCIPLE The business is separate from the owner and other entities, and its records should be kept on this bias Back
- 10. Going concern principle The life of the business is assumed to be continuous, and its records are kept on that basis Back
- 11. Reporting period principle The life of the business must be divided into ‘periods’ of time to allow reports to be prepared, and the accounting records should reflect the reporting period in which a transaction occurs Back
- 12. Historical Cost principle Transactions should be recorded at their original purchase price, as this value is verifiable by source documents evidence. Back
- 13. Consistency Principle the business should use the same accounting methods to allow for the comparison of reports from one period to the next Back
- 14. Conservatism Principle Losses should be recorded when probable, but gains only when certain so that liabilities and expenses are not understated and assets and revenues are not overstated Back
- 15. Monetary Principle All items must be recorded and reported in the currency of the country of location where the reports are being prepared Back