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Illustrate the mechanisms of these principles

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Question: His Excellency Phou Seng Heng, the CEO of PSH Garments (Cambodia) Pte. Ltd. wants to be clear about the following accounting principles: (1) historical cost, (2) going concern and (3) prudence. As the CFO, you need to explain these concepts and conventions to him in at least 300 words otherwise you will be demoted. He also wants relevant examples to illustrate the mechanisms of these principles.

Reference no: EM133522325

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