accounting standard 1 describes about the disclosure of accounting policies could you please tell me how we have to disclose,
going concern
consistency
accrual basis
if these three are not followed by the company means shall I disclosure.
what is mean by material effect any material affect could you please explain me
finally how to disclose the accounting policies what basis I have to analyse and find out discussion
The two main accounting methods are cash accounting and accrual accounting. Cash accounting records revenues and expenses when they are received and paid. Accrual accounting records revenues and expenses when they occur. Generally accepted accounting principles (GAAP) requires accrual accounting.
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