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Unformatted text preview: Materiality – whole impact on financial statement by accountants judgment call Revenue Realization – realize revenue when earned not necessarily when cash received Matching Principle – match expense used up in process of making revenue not necessarily when cash paid Conservatism – record accounts at conservative value = equip less AD = net carrying value...
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This note was uploaded on 09/15/2011 for the course ACCT 101 taught by Professor Lunday during the Spring '09 term at Oklahoma State.
- Spring '09