Accountancy, asked by krittikamhegde101, 6 months ago

Accounting principles are in what form

Answers

Answered by Anonymous
1

Answer:

Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". ... In accounting for business transactions and other events, the measurement and reporting is for the economic impact of an event, instead of its legal form.

hope this helps you mate xD

Answered by madhurachaudhari16
0
GAAP attempts to standardize and regulate the definitions, assumptions, and methods used in accounting. There are a number of principles, but some of the most notable include the revenue recognition principle, matching principle, materiality principle, and consistency principle.
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