Accounting Policy

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1 Types

August 31, 2024 4 min read Definitions

Corresponding Amount: Comparative Financial Metric

Finance Accounting Corresponding Amount Comparative Amount Financial Accounts Companies Act Accounting Policy

An amount in the published financial accounts of a limited company that relates to the previous financial year, facilitating comparisons between accounting periods.

August 31, 2024 4 min read Definitions

Prospective Application: Future-Oriented Accounting Method

Accounting Finance Prospective Application Accounting Policy Financial Reporting Accounting Standards Change in Accounting Principle

The prospective application is a method of applying new accounting policies to transactions and events occurring after the date of change, ensuring relevance and transparency in financial reporting.