What is the Conservatism Principle? Definition Meaning Example
A cautious approach generally presents financial statements in the least optimistic light. There is a danger that assets and revenue would be overstated, so where the accountant has two acceptable options, the principle of conservatism would recommend presenting the lower of the two options. There is a danger that liabilities and expenses, on the other hand, will be […]
What is the Conservatism Principle? Definition Meaning Example Read More »