06-08-2009, 04:55 PM
AOA, faisal bhai
I think you want to say me that prudence concept has priority over other accouting concepts that is why matching and consistency is voilated when they collide wint prudence. is it right?how can a paritcular company face lower profit or sustain loss if they record inventory at cost if MV is lower then cost? which matters can be discussed that must be consistent when we discuss the concept consistency.
I think you want to say me that prudence concept has priority over other accouting concepts that is why matching and consistency is voilated when they collide wint prudence. is it right?how can a paritcular company face lower profit or sustain loss if they record inventory at cost if MV is lower then cost? which matters can be discussed that must be consistent when we discuss the concept consistency.
