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What does the term "accounting policies" refer to?

a. The measurement bases used by an entity b. The accounting concepts and conventions adopted by an entity c. The accounting principles applied by an entity d. All of the above

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Question ajoutée par Utilisateur supprimé
Date de publication: 2013/08/27
Utilisateur supprimé
par Utilisateur supprimé

Accounting is a policy for a firm/company or an industry which is considered to have a notably high subjective element, and that has a material impact on the financial statements. These policies are often mandated to be described in detail in specific sections of a company's annual or quarterly reports. Using accounting policies and procedures is one method of creating the internal controls needed for a successful and compliant organization.

Eg :

  • A clothing retailer accounting for inventory
  • Bank's accounting for future unpaid loans
  • A manufacturer or a store accounting for future returned items

Navid Iqbal
par Navid Iqbal , Project Manager , emiratesnbd

Principles, rules and procedures selected, and consistently followed, by the management of an organization (the accounting entity) in preparing and reporting the financial statements.

so answer would be all of the above

 

SREEDEVI SUNILKUMAR
par SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline

Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. (IAS8) 

 

means answer all of the above.

Farhan uddin Khilji
par Farhan uddin Khilji , Head of Internal Audit , ABV Rock Group Co. Ltd.

d.
All of the above.

mukkur srinivasan varadhan
par mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

A.The measurement bases used by an entity.

taha amer
par taha amer , Finance Manager , Arabia ‎Holding

    c.
The accounting principles applied by an entity

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