Difference between revisions of "Full disclosure principle"
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Revision as of 10:40, 20 December 2018
Full disclosure principle is the accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Full disclosure principle. The accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
