Financial area
MPR Sanjay Kumar (3118 Points)
02 December 2021
🌟 what is mean by prudence in accounting give some examples in practical way....
2 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 03 December 2021
PRUDENCE IS DECISSION MAKING.
STARIAGHT LINE VERSUS WDV DEPRECIATION
INVENTORY VALUATIONS
COST CONCEPTS
TAX SAVINGS FROM MANAGEMENT DECISSIONS ETC.
IT RELATES TO VALUATIONS MOSTLY USED IN DECISSION MAKING, PREPARING FINANCIAL STATEMENTS.(MAKE SURE ALL RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE CRITERIA IS MET)
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