Accouting Policies
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Created by:
shreeram_A on December 12, 2011
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4 terms
Terms | Definitions |
|---|---|
 recognise that a financial report can only be compared with reports for other periods if similarities and differences can be identified | Comparability |
| understand that financial information is relevant only if it affects the business decisions | Relevance |
| understand that financial information is reliable only if it can be depended upon to represent actual events and is free from error and bias | Reliability |
| recognise that a financial report must be capable of being understood by the users of that report. | Understandability |
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