Discussion topic

Financial statements are prepared using which basis of Accounting and why? Explain.

Financial statements are prepared using which basis of Accounting and why? Explain.

by Asadullah Shakil -
Number of replies: 1

The financial statements have been prepared on an accrual basis and in accordance with the historical cost convention, except for certain assets and liabilities at fair value.

In reply to Asadullah Shakil

Re: Financial statements are prepared using which basis of Accounting and why? Explain.

by Shahana Kabir -
Good observation.Thanks for reply.