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Accounting, part 2 - Coggle Diagram
Accounting, part 2
Other principles
principles of prudence: requires that the financial statement show the scenario that is most conserved
Disclosure principle: sufficient establishes that the entire financial statement must have necessary information and presented in an understandable manner
Principle of comparability: it is based on the financial information required in the majority for the possibility of buying the financial situation
principle of objectivity: it can be interpreted that the accounting must faithfully reflect the operations carried out
Principle of accounting period: establishes that accounting must provide information referring to costs period of time
Principle of accounting realization: establishes that an economic transaction must be recorded in the books
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accounting cycle
It is the accounting process that occurs throughout a financial year in the activity of a company, stages, opening, development, closing.
stages
opening,development,closing
accounting principles
They are guidelines that regulate the way in which financial information is quantified, treated and communicated by accounting professionals.
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Principle of belonging
require accounting information that has to refer to being ultimately associated with the decisions that it has as its purpose
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