What must assests be valued at in the GOING CONCERN concept?
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Card 7
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What is the accruals concept?
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Card 8
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ACCRUAL EXAMPLE/ Rent paid during financial year ended 31st March 2009 was £7200. Rent of £500 for March 2009 was paid in April 2009. How should the accountant record this?
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Card 9
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What is the Prudence concept?
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Card 10
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What is the Realisation concept?
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Card 11
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An example of the Realisation concept..
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Card 12
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What is the consistency concept?
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Card 13
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What happens in the consistency concept is not applied and different methods are used?
