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Krishna
- 22 Jul
- 0 Comment
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Accounting records are qualitative.There are some qualities of accounting records:-br /Relevancestrong:/strong accounting records makes a difference in decision makingbr /Reliability: this records is verifiable, factual, and neutralbr /Comparability: records can be used to compare different entitiesbr /Consistency: records is consistently presented from year to yearbr /These qualities make accounting information understandable and useful for decision and reporting purposes: the goal of financial reporting is to provide useful information to current and potential investors, creditors, and other users of accounting information (e.g government, standard-setting bodies) to make investment, credit, and other decisions.
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Ashish
- 09 Jul
- 0 Comment
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accounting records are QUANTITATIVE records as they deal with quantifying figures un an organisation
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Vamsi
- 05 Jul
- 0 Comment
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