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Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
2 / 512 |
Essay's paper body
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|When faced with uncertainty, there is a need to either require reporting of unbiased values |
|accompanied with sufficient disclosure, or require the reporting of biased (prudent or |
|?conservative) values with the bias determined in a predictable, consistent fashion. |
| |
|COST-BENEFIT EFFECTIVE |
|General understanding that the development of accounting information consumes resources...
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|COST-BENEFIT EFFECTIVE |
|General understanding that the development of accounting information consumes resources. |
| |
|As such, the cost of producing such information should be reasonable in relation to the expected |
|benefit. |
| |
|Use the materiality accounting rule - may not have to be fully followed for immaterial items if |
|full compliance would result in unwarranted higher costs...
Essay fragment
General points of the essay
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