State the term reliability- accounting information, Financial Accounting

Assignment Help:

State the term Reliability- Accounting Information

Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent what it's supposed to represent. However both reliability and relevance are very significant, the problem that we often face in accounting is that information which is highly relevant may not be very reliable. In the same way, that which is reliable may not be very relevant.

When seeking to strike right balance between reliability and relevance, the requirements of users must be overriding consideration

 


Related Discussions:- State the term reliability- accounting information

Differences between estates and trusts-executorship laws, Differences betwe...

Differences between estates and trusts Note particularly the following differences between estates and trusts:— 1. Estate: on the death of a testator or an intestate, all

Which is not true of a corporation, Q. Which of the following is not true o...

Q. Which of the following is not true of a corporation? a. It may buy, own, and sell property. b. It may sue and be sued. c. The acts of its owners bind the corporation. d. It may

Is the emergency center a wise use of the hospital''s , Consider a not-for-...

Consider a not-for-profit hospital faced with a familiar choice: to open or not to open an emergency center in a new suburban hospital shopping mall.  The mall's developers claim t

Mortgage, Ask questiJohn’s away at the moment, and his email provider has a...

Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that

the extra amount to be paid , The purchase of a car needs a $23,410 loan t...

The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t

Prepare general journal entries, Assessment Criteria: Student work will ...

Assessment Criteria: Student work will generally be assessed in terms of the following criteria: 1. Preparation of correct journal entries. 2. Accumulation of journal entr

Assignment, I have an assignment due in four hours. Is it possible to get a...

I have an assignment due in four hours. Is it possible to get an inquiry if at least half of it can be done within that time?

Americans with disabilities act - ada, Americans With Disabilities Act - AD...

Americans With Disabilities Act - ADA  legislation passed in 1990 that bans discrimination against people who are having disabilities. According to this Act, discrimination against

Case law about investment, If you inherited $45,000 today and invested all ...

If you inherited $45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years?

What is completion report, Q. What is Completion Report? The object of a ...

Q. What is Completion Report? The object of a completion report is to compare the cost of work actually constructed with those provided for in the last sanctioned estimate. A com

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd