1. Historical Cost: Financial statements report companies’ resources
and obligations at an initial historical cost. This conservative measure precludes
constant appraisal and revaluation.
2. Revenue Recognition: Revenues must be recorded when earned and
measurable.
3. Matching Principle: Costs of a product must be recorded during the
same period as revenue from selling it.
4. Disclosure: Companies must reveal all relevant economic
information determined to make a difference to
their users.
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with extra information? It is extremely helpful for me. agile manifesto principles
ReplyDelete