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Do you find any of the Fundamental accounting concepts conflicting each other?

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Question ajoutée par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date de publication: 2015/03/10
Mir Mujtaba Ali
par Mir Mujtaba Ali , Internal Audit Manager , Confidential

Yes- Many places

Example:

Going Concern and Historical Cost

Realization and Historical Cost

Practical principles are the cure

Hafiz Amjad Mehmood
par Hafiz Amjad Mehmood , Project Accounting Manager , Huta Group

There is no conflict between the fundamental Accounting Principles,,, you may find different depreciation method that bring different results, realization or historical cost that may initially look to be conflicting but infact they are to be practiced for different situations.

 

It's not the Accounting Principles that conflict but it is the value judgement about where and what to apply.

Malik Khalid Mahmood
par Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

no, they support each other

Ayman Esa Mustafa Farrag
par Ayman Esa Mustafa Farrag , مدير مالي , شركة الصفوف

Qualitative characteristics of accounting information contained in the statement issued by the US Financial Accounting Standards ) FASB ( predominantly theoretical nature and have no standards or Mahart specific application

Practical

according to me cost principal have a bit of conflict with market value concept...........now look if we show our fixed asset at cost & on other side accumulated derpreciation a/c.but in case where we put the market value of asset means no accumulated depreciation account.so it will violate cost principal but at the same time it will market value principal.

FITAH MOHAMED
par FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

NO>>>>>>>>>>>>>>>>>>>>>>>>>

Leonard Santiago
par Leonard Santiago , Analyst - Financial & Budget , Unified Real Estate Development Company

If circumstances change, prudence may conflict with the consistency concept, which requires the same treatment year after year.In situations, prudence must prevail.

Ahmed Ali Khan Patan
par Ahmed Ali Khan Patan , Chief Accountant , Ducting & Servicing Co. Dasco

No Actually fundamental accounting concepts is double entry system so there is no question of conflicting each other

 

Ahmed kandil
par Ahmed kandil , Cost Controller , Battour Holding Cpompany

Agree with all answers ....

Sahar Alech
par Sahar Alech , Auditor / Financial Manager , Accounting Services Office

I agree with Mr. hafiz Amjad there is no conflict between accounting concepts

fadil hoory
par fadil hoory , محاسب , شركة مقاولات بالسعودية

The concept of caution

  The accrual concept

 

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