What are the fundamental accounting assumptions?

Question added by manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS
Date Posted: 2013/09/22

Upvote (1) Views (7) Followers (2) Answers (3) Report Question

by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

- going concern

- unit of measure

- consistency

- the separate entity

- a specific time period

by Faraz Sultan , head of regional operations , BMSA GLOBAL

Going ConcernConsistency Time RelevanceStable Unit Of Currency

by Akram Massoud , FINANCE MANAGER , Autoexcellence LTD

The Accounting Standard1 recognises three fundamental accounting assumptions. These are:

(a) Going Concern

(b) Consistency and

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