ACCOUNTING CONCEPTS
\ɐkˈa͡ʊntɪŋ kˈɒnsɛpts], \ɐkˈaʊntɪŋ kˈɒnsɛpts], \ɐ_k_ˈaʊ_n_t_ɪ_ŋ k_ˈɒ_n_s_ɛ_p_t_s]\
Sort: Oldest first
-
The accounting rules governing financial statement preparation. Once a method is chosen is should be used throughout. The four main concepts are accruals, consistency, going, and prudence. Refer to summary of significant accounting policies.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.