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Презентация на тему Accounting policies and standards

Accounting Policies A company's way of doing their accounts
Accounting policies and standardsMade by: Galimova Katya. УМБ 1-12 Accounting Policies A company's way of doing their accounts Valuationdeciding how much something is worth Measurementdetermining how big something is Generally Accept Accounting Principles (GAAP)The accounting standards used in the USA International Financial Reporting Standards (IFRS)Accounting standards used by 113+ countries worldwide Consistency principle  The idea in accounting that once an accounting method Discloseto make known or reveal Depreciation  reducing the value of assets in the company's accounts Provisionsamounts of money deducted from profits Historical Cost Principle companies record the original purchase price of assets, and Replacement Cost Accounting values all assets at their current replacement cost Current replacement costthe amount that would have to be paid to replace them now
Слайды презентации

Слайд 2 Accounting Policies
A company's way of doing their accounts

Accounting Policies A company's way of doing their accounts

Слайд 3 Valuation
deciding how much something is worth

Valuationdeciding how much something is worth

Слайд 4 Measurement
determining how big something is

Measurementdetermining how big something is

Слайд 5 Generally Accept Accounting Principles (GAAP)
The accounting standards used

Generally Accept Accounting Principles (GAAP)The accounting standards used in the USA

in the USA


Слайд 6 International Financial Reporting Standards (IFRS)
Accounting standards used by

International Financial Reporting Standards (IFRS)Accounting standards used by 113+ countries worldwide

113+ countries worldwide


Слайд 7 Consistency principle
The idea in accounting that

Consistency principle The idea in accounting that once an accounting method

once an accounting method is adopted, it should be

followed consistently from one accounting period to the next

Слайд 8 Disclose
to make known or reveal

Discloseto make known or reveal

Слайд 9 Depreciation
reducing the value of assets in

Depreciation reducing the value of assets in the company's accounts

the company's accounts


Слайд 10 Provisions
amounts of money deducted from profits

Provisionsamounts of money deducted from profits

Слайд 11 Historical Cost Principle
companies record the original purchase

Historical Cost Principle companies record the original purchase price of assets,

price of assets, and not their (estimated) current selling

price or replacement cost

Слайд 12 "going concern"
the idea that a successful company

will continue to do business


Слайд 13 Replacement Cost Accounting
values all assets at their

Replacement Cost Accounting values all assets at their current replacement cost

current replacement cost


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