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Properly speaking, if the costs in particular information exceed the benefit they can acquire, companies may choose not to disclose this particular information. [11] For example, if there is a $0.1 difference between checkbook register and bank statement , accountant should ignore the $0.1 rather than waste time and money to find the $0.1.
The convergence of accounting standards refers to the goal of establishing a single set of accounting standards that will be used internationally. [1] Convergence in some form has been taking place for several decades, [ 2 ] and efforts today include projects that aim to reduce the differences between accounting standards.
The material is press-ready and may be printed by paying a 5% royalty, and by acknowledging NCERT. [11] The textbooks are in color-print and are among the least expensive books in Indian book stores. [11] Textbooks created by private publishers are priced higher than those of NCERT. [11]
In the Class 7 textbook topic titled “Our Pasts-2”, pages 48 and 49 have been excluded. These pages mentioned “Mughal Emperors: Major campaigns and events.” The deletions also affected Biology and Chemistry textbooks as the theory of evolution and the periodic table were also purged from class 10 NCERT textbooks. [35] [36]
Financial accounting aims at presenting 'true and fair' view of transactions, profit and loss for a period and Statement of financial position (Balance Sheet) on a given date. It aims at computing 'true and fair' view of the cost of production/services offered by the firm. [11]
The following outline is provided as an overview of and topical guide to accounting: . Accounting – measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.
Byju's is an education tutoring app that runs on a freemium model, [30] with free access to content limited for 15 days after the registration. [30] [31] It was launched in August 2015, [32] offering educational content for students from classes 4 to 12. [33]
A scope limitation is a restriction on the applicability of an auditor's report that may arise from the inability to obtain sufficient appropriate evidence about a component in the financial statements.