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Moscow: IAS financial statements

 Moscow: IAS financial statements





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Accrual basis of accounting

An entity shall prepare its financial [one] statements, except for cash flow information, using [two] the accrual basis of accounting.

When the accrual basis of accounting [three] is used, an entity recognises items as assets, [four] liabilities, equity, income and expenses (the elements [five] of financial statements) when they satisfy the definitions [six] and recognition criteria for those elements in the Framework.

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Feature conception:

Thus it appears, in what various ways Nature has taught man her first great lesson of love and union.

Nor did she give the same talents either in kind or in degree to all, evidently meaning that the inequality of her gifts should be ultimately equalized by a reciprocal interchange of good offices and mutual assistance.

Thus, in different countries, she has caused different commodities to be produced, that expediency itself might introduce commercial intercourse.

Desiderius Erasmus

The Complaint of Peace


Moscow: IAS financial statements


IAS financial statements in Moscow

Chapter: Moscow IAS financial statements

Moscow: IAS financial statements


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