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Accounting Concepts - Review

Horizontales
The accounting concept that assumes a company's financial transactions can be divided into separate entities, such as business and personal transactions.
The global standard-setting body for accounting standards (Acronym)
The concept in accounting that focuses on providing a true and reliable representation of financial information.
This accounting principle requires financial information to be disclosed if it could influence the decisions of users, even if it may not have a significant impact on the financial statements.
Accounting concept that assumes a company will continue its operations in the foreseeable future.
This accounting principle suggests a cautious approach to recognizing and valuing assets and liabilities.
Verticales
The principle that requires accountants to use the same accounting methods consistently over time.
This principle in accounting requires financial statements to be prepared using a stable and widely accepted currency unit.
The abbreviation for the board that sets accounting standards in Australia.
The accounting concept that recognizes revenue and expenses when they are earned or incurred, regardless of when cash is received or paid.
This concept in accounting assumes that a company's ongoing complex business operations and financial results can be divided into distinct time periods.