ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OBJECTIVITY PRINCIPLE Definition
OBJECTIVITY PRINCIPLE states that accounting will be recorded on the basis of objective evidence. Objective evidence means that different people looking at the evidence will arrive at the same values for the transaction. Simply put, this means that accounting entries will be based on fact and not on personal opinion or feelings.
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PROFIT is the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses).
PULA is a currency of Botswana.