Please Explain What Are The Underlying Accounting Principles That At Least Need To Be Follow When Presenting Financial Statements under FRS 101

Tweet Under FRS 101 ( Presentation of Financial Statements) it stipulates the minimum underlying accounting principles when presenting the financial statements: Going concern- refer article Accrual basis of accounting-refer article Consistency of presentation- refer article Materiality and aggregation – Each material class of item should be presented separately Offsetting meaning that Assets and Liabilities are […]