GuestGoing Concern
Source: Clackr sample text
Financial statements are normally prepared on the assumption that the entity will continue in operation for the foreseeable future. If that assumption is in doubt, the basis of preparation and the related disclosures must change.
Typing details
- 35 words, 229 characters
- No figures
- About 1 minute at 40 WPM
About Accounting
Accounting principles in short, plain-language summaries: double entry, accrual, going concern and prudence, then Ind AS topics such as inventories, cash flows, events after the reporting period, income taxes, property, plant and equipment, employee benefits, government grants and foreign currency.