disclosure principle

Tag: disclosure principle

Subsequent Events

Subsequent Events Definition The definition of a subsequent events are generally defined as events that occurs after the year end period but before the financial statements have been issued. A subsequent event falls underneath the disclosure principle and can be confusing to many accountants that encounter them. However, the codification provides guidance under ASC 855

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Accounting Principles 5, 6, and 7

See Also: Accounting Principles 1, 2, and 3 Continuous Accounting: The New Age of Accounting Accounting Concepts Point of Sale (POS) Method Generally Accepted Accounting Principles (GAAP) Financial Accounting Standards Board (FASB) Adjusting Entries Accumulated Amortization Accounting Principles 5, 6, and 7 Description Basic accounting principles are both generally held and regulated under Generally Accepted

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