substance over form
Vaidehi Patil (Student) (131 Points)
17 November 2016
what I s basic concept of substance over form?? does it have any other accounting term other than this??
2 Replies
Snehal N. Tanna
(Chartered Accountant)
(3040 Points)
Replied 17 November 2016
In short It means..Reality is important than legality..So, reality should be given importance rather than legality
Snehal N. Tanna
(Chartered Accountant)
(3040 Points)
Replied 17 November 2016
It is the funniest example but You can understand the concept..for suppose Husband and Wife is not living together.. So in reality they got seperated but as per legal term they are still together..
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