ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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DISCLOSURE PRINCIPLE Definition
DISCLOSURE PRINCIPLE states that any and all information that affects the full understanding of a companys financial statements must be include with the financial statements. Some items may not affect the ledger accounts directly. These would be included in the form of accompanying notes. Examples of such items are outstanding lawsuits, tax disputes, and company takeovers.
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CAPITAL RATIONING is restrictions put of the amount planned for new expenditures.
ACCRUED EXPENSES are expenses incurred during an accounting period for which payment is postponed.