Username: PrettyWoman Rating: Asked to: Heng Kim Date Created: 31 Aug 2015 |
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Category | 28 |
Tag | Financial |
Question | What is accounting convention? |
Hello Pretty Woman, Guidelines that arise from the practical application of accounting principles. An accounting convention is not a legally-binding practice; rather, it is a generally-accepted convention based on customs, and is designed to help accountants overcome practical problems that arise out of the preparation of financial statements. As customs change, so to will accounting conventions. |
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