Accounting Principles should be dash enough and not be so rigid
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Subject:
Accountancy -
Author:
pollard -
Created:
1 year ago
Answers 2
Answer:
Accounting Principles should be flexible enough and not be so rigid.
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Author:
siennadowns
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Rate an answer:
10
Answer:
Accounting principles should be FLEXIBLE enough and not so rigid.
Explanation:
Accounting is a man-made law made for the smooth sailing of various businesses. It goes without saying that if do not update the laws we follow we can never grow and make our lives better. Hence, the Flexibility Principle states that the accounting system need to shape itself according to the needs and demands of the company. Not only it helps with fast pace of work but also provides the reporting managers with oppurtunities to give a proper judgement in areas of monetary transactions.
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Author:
hadassahdavies
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Rate an answer:
7