Written by: Barbora Choi on Thu Jul 24
Accounting Policy vs. Accounting Politics
Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements.
“Creative interpretation of the truth is a lie.”
There might be a lot of politics in everyday accounting.
Can you guess which of the two similar examples in the carousel is an application of an accounting policy and which was a scheme designed to miselad?
*small correction on the slide 13. the subsidiary has NO public accountability"
Opening quote by Wyatt B. Pringle, Jr. via Goodreads.
