Search For Study And Focus

A method to make your writing suspenseful How and why to learn korean in 60 days

From profit reservation of funds for a covering of future obligations which volume is known and which can be predicted only with a certain degree of accuracy, and also on contingencies and conditional obligations is made.

However development of a world financial system and recent trends in reflection of accounting information brought to that, as in Great Britain professional accountants incline to a utilitarian view of character of information opened in accounting reports: the official reporting of the British companies is more increasing

The manorial account carried out two functions – control and information, and carried out them quite successfully. His survivability throughout several centuries is explained by it. However it was not adapted for calculation of profit; the truth, it is necessary to recognize that special need in

"The passive consists of the obligations which are subject still to performance, what debts, bill accents which are not paid to a tax, etc. The asset minus a passive represents the valid property" (The encyclopedic dictionary - SPb.; F.A. Brockhaus and N. A. Efron - T. - page 3

Ways of the accounting of goodwill and now are a subject of disputes of the British accountants. Gudvil arises upon purchase by one company another as a difference between the price paid for it and the current cost of assets. Thus, this difference can be treated as additional expenses which should be covered from special reserve fund and to write off immediately. Such way is provided by SSAP 2 However there is also other point of view which is reflected in the international standard

Between our and American accounts departments of distinction generally have external character; our representations rather in a form of an embodiment of ideas, than according to their contents differ. We solve the same problems, and many of them and to them, and we still should solve.

It is necessary to stop on essentially important points. Liabilites - usually translators use the term "obligation". However such approach does not consider value of this term in all theoretical system of accounting.