Users of Accounting information

Essay specific features

 

Issue:

Business

 

Written by:

Yvonne N

 

Date added:

January 8, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 986

 

Was viewed:

8280 times

 

Rating of current essay:

 
Essay content:

Therefore the limitations of the balance sheet clearly affect the accuracy of the statement. These include: the representation of the position of an entity at one particular point. The statement is only relevant at that particular point in time; the utility of the statement diminishes as time passes for providing relevant measures of assets and liabilities of an entity as the values assigned are usually historical cost; and, the valuation method of assets need to be appropriately measured as certain cases lead to an incorrectly stated figure...
displayed 300 characters

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Therefore the limitations of the balance sheet clearly affect the accuracy of the statement. These include: the representation of the position of an entity at one particular point. The statement is only relevant at that particular point in time; the utility of the statement diminishes as time passes for providing relevant measures of assets and liabilities of an entity as the values assigned are usually historical cost; and, the valuation method of assets need to be appropriately measured as certain cases lead to an incorrectly stated figure...
displayed 300 characters

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