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Accounting
Game Code: 1541713
English
13
Public
accounting
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Thao Pham
73
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What's standard? When preparing accounts, one must assume that the company will still be viable in the years to come
The matching principle
The prudence principle
The consistency principle
The going concern principle
15
What's standard? recognizing expenses immediately, and not recognizing income until it is reasonably certain
The prudence principle
The going concern principle
The consistency principle
The matching principle
15
What's standard? Items are recorded when the income and expense arises, not depend on movement of cash.
The consistency principle
The matching principle
The prudence principle
The going concern principle
15
What's standard? Accounts should be produced using the same principles from one year to the next year
The prudence principle
The consistency principle
The going concern principle
The matching principle
15
A firm that sells its share to anyone who wants to buy them.
Publicly-traded company
15
The rules and regulations which state how accountants operate in a particular place.
Local accounting standards
15
People or groups who are not involved with the company
Outside parties
15
For example, Australia, the U.K, the U.S.A
English-speaking country
15
The way that most people do something.
Accepted practice
15
GAAP
Generally Accepted Accounting Principle
15
IFRS
International Financial Reporting Standards
15
IAS
International Accounting Standards
15
IASC
International Accounting Standards Committee
15
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