Full Disclosure Principle
Not what you're looking for?
The full disclosure principle:
requires that when a change in inventory valuation method is made, the notes to the statements report the type of change, its justification and its effect on net income.
requires that companies use the same accounting method for inventory valuation period after period.
is only applied to retailers.
is also called the consistency principle.
Purchase this Solution
Solution Summary
The solution answers what is full disclosure principle.
Purchase this Solution
Free BrainMass Quizzes
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.