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FAR 1- Accounting concepts > Relevance > Flashcards

Relevance Flashcards

(1 cards)

1

Q

What is Relevance concept?

A

Components of relevance are predictive value, confirming value, and materiality.

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FAR 1- Accounting concepts (22 decks)

Accounting Concepts

Prior Period Adjustment Question

Change In Depreciation

Error Correction

Understatement Of Inventory

Tax Impact On PPA

Cumulative Effect Of A Change In Accounting Principle

Temporary Declines In Inventory

Effective Income Tax Rate

Change From Fifo To Lifo

Permanent Decline In Inventort

Extraordinary Item

Development Stage Deficit

Development Stage Enterprise

Faithful Representation

Foreign Currency

Current Market Value

Comprehensive Income

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