Week 1_ dis 1 | ACC561 Accounting | University of Phoenix
Chapter 1 discusses ethics in business and accounting. The notes to the financial statements describe the accounting principles used by a company to record its transactions. Accountants apply the convention of conservatism when analyzing economic events and recording them. The following is a definition of conservatism: In the application of accounting principles and the development of estimates, accountants should be conservative. Given choices between various methods of recording […]
