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متابعة

The principle of caution means?

The principle of caution means that the expected losses are taken into account before they happen and not taking into account the expected profits only when actually achieved, True or False?

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تم إضافة السؤال من قبل Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial
تاريخ النشر: 2014/04/29
Divyesh Patel
من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

True.

Rashad Moursi
من قبل Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial

The answer its;

True contain.

Umer Aziz
من قبل Umer Aziz , Senior Accountant , TERNA Bahrain Holding - GEK Group (www.terna.gr)

Wrong

Ibrahim Fikry Mohamed
من قبل Ibrahim Fikry Mohamed , Fixed Assets and GL Accountant , Telecom Egypt

True, according to conservatism principle in accounting

Ahmed ELSayed
من قبل Ahmed ELSayed , Assistant Tax Manager (Tax Inspector , Large Taxpayers Center) - Egyptian Tax authority

 Is principle from GAAP, the caution  principle According to the principle, the company should take the least optimistic approach to the situation, Accountants just have to choose the most conservative outcome if two different outcomes are available.

Example 

 the expected losses are taken into account before they happen and not taking into account the expected profits only when actually achieved,

 

Soliman Abd  ALmalak Gendy
من قبل Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

IN general, it is true contain

FATEH BOUCHENE
من قبل FATEH BOUCHENE , institut d'emission , banque centrale d'algerie

Confidence is good but control is better, so be careful in all areas