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Accounting
Banking

Entity Concept

An accounting concept that considers a firm (a business or an entity) to be financially separate from its owners. This...

Going Concern Concept

An accounting concept that considers an entity to continue in business indefinitely or for the foreseeable future (a minimum period...

Going Concern Assumption

An accounting assumption that holds that an entity would continue in business indefinitely or for the foreseeable future (a minimum...

Continuity Assumption

An accounting assumption that holds that an entity would continue in business indefinitely or for the foreseeable future (a minimum...

Subsequent Event

An event (e.g., a transaction, business or financial) that takes place after the end or close of the accounting/ reporting...

Condensed FS

A financial statement (FS) that lays out a minimum content for interim financial reporting requirements. This is meant to provide...

Condensed Financials

A financial statement that lays out a minimum content for interim financial reporting requirements. This is meant to provide a...