It is a policy of playing safe. For future events, profits are not anticipated, but…

If the disclosure or non-disclosure of an information might influence the decision of the users…

The Companies Act, 1956, prescribed a format in which financial statements must be prepared. Every…

To compare the results of different years, it is necessary that accounting rules, principles, conventions…

According to the Objective Evidence concept, every financial entry should be supported by some objective…

As stated above in the matching concept, the revenue generated in the accounting period is…

Contracts govern all transactions whether they are between firms or between firms and private individuals.…

Creative Accounting and the Need for a Theory of Accounting The rise of “creative accounting” practices, an…

Matching concept is based on the accounting period concept. The expenditures of a firm for…

The frequent attempts by experts and professionals on having a “theory” that would guide accountants…