All economic transactions, corporate finance-related assets, liabilities, equity ownership, revenue, cost accounting entries should be at the time of birth, not based on time actual revenue or actual payment or cash equivalents. Financial statements prepared on the accrual basis to reflect the financial situation of enterprises in the past, present and future.
Presented honest: The information presented is reflected in its true nature, not distort or misrepresent whether accidental or intentional. Thus, from the purpose of providing information to the user, the first principle of the preparation of financial statements is to present honest.
Business Continuity: When preparing financial statements must now beat the ability of business continuity. However, cases recognize the signs of bankruptcy, dissolution or reduce the size of most of the business or business activity there are factors that can affect the ability to produce large business, but the application business continuity principle still fit the specific needs interpretation.
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