Abstract
When preparing final accounts the aim is to present a “true and fair view” of the financial position of the business. This statement has not yet been defined in any legislation or court case but is generally accepted to mean a “fair view” without bias. In order to achieve this accountants are required to base their work on a set of principles which are usually referred to as concepts and conventions. These principles are important for two reasons:
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© 1993 Sally Messenger and Humphrey Shaw
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Messenger, S., Shaw, H. (1993). Accounting Concepts and Conventions. In: Financial Management. Palgrave, London. https://doi.org/10.1007/978-1-349-13080-1_2
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DOI: https://doi.org/10.1007/978-1-349-13080-1_2
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-58528-3
Online ISBN: 978-1-349-13080-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)