T
Troy Steadman
There doesn't seem to be any google on this so perhaps (late on Sat
night) I can start off a thread leading to the ukba agreed definitive:
1) "Accruals" aka "Matching" - Expenditure should be matched to the
Sales to which it contibuted.
2) "Substance over Form" - what is Actual should supercede the Legally
Correct
3) "Consistency" - What we did last year has to be comparable with what
we are doing this year - to some extent right or wrong - if the figures
are to be comparable.
4) "Going Concern" - regardless of how profitable a business is can it
survive?
5) "Materiality" - anything unimportant need not be shown.
"Prudence" is nowadays superceded. We should aim for Precision?
night) I can start off a thread leading to the ukba agreed definitive:
1) "Accruals" aka "Matching" - Expenditure should be matched to the
Sales to which it contibuted.
2) "Substance over Form" - what is Actual should supercede the Legally
Correct
3) "Consistency" - What we did last year has to be comparable with what
we are doing this year - to some extent right or wrong - if the figures
are to be comparable.
4) "Going Concern" - regardless of how profitable a business is can it
survive?
5) "Materiality" - anything unimportant need not be shown.
"Prudence" is nowadays superceded. We should aim for Precision?