Accounting Framework of the IFRS for Small Business [SMEs]
“Small and Medium-sized Entities [SMEs]” has different meanings in different territories. The definition in the context of the IFRS for SMEs is entities that do …
Posts tagged Historical Cost
Basic Accounting: Assumptions, Principles, Constraints
The Financial Accounting Standards Board (FASB) attempts to base U.S. GAAP on a number of key theoretical assumptions, principles, and constraints which are commonly known …
Property, Plant, and Equipment Valuation
Considerable confusing discussion has occurred for years on the subject of valuing property, plant, and equipment. Much of the confusion comes about as a result …