FINITE AND RIGID UNIFORMITY FINITE UNIFORMITY Equates prescribed accounting

Finite and rigid uniformity finite uniformity equates

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FINITE AND RIGID UNIFORMITY FINITE UNIFORMITY Equates prescribed accounting methods with the relevant circumstances in generally similar situations RIGID UNIFORMITY Prescribes one method for generally similar transactions Generally, if finite uniformity can be attained, it is superior to rigid uniformity for the standpoint of decision making
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THE PRESENT STATUS OF UNIFORMITY Finite uniformity Rigid uniformity Factors ; a. A desire for conservatism b. An inability of the standard setting organization to determine meaningful relevant circumstances c. An attempt to increase verifiabilitieas of measurment d. Recognition force the allocation of the fact e. Perception of the cost of the implementation of the state of relevant to exceed the benefits
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[CONTINUE] Flexibility applies to situations in which there are no discernible relevant circumstances but more than one possible accounting method exists Prevalent in GAAP
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Broad Event Class Complex Event Simple Event Rigid Uniformity Measurement and/or Cost Constraints Rigid Uniformity Measurable And Cost Effective Finite Uniformity
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  • Summer '14
  • Generally Accepted Accounting Principles, Selective Disclosure, rigid uniformity, relevant circumstances, finite uniformity

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