The 'true and fair view' in financial reporting

Type :

Term papers

Pages :

4 pages

Format :

.doc

Published date :

01/13/2009

$ 6.95 Add to cart

Summary :

 
 

Table of Contents The 'true and fair view' in financial reporting Table of Contents

 
  1. Introduction.
  2. The 'true and fair view' override in the United Kingdom.
  3. 'True and fair view' versus regulation.
  4. The "true and fair view": A myth.
  5. Conclusion.

Abstract

Originally, one major concept was stressed in the United Kingdom: the 'true and fair view' in financial reporting. This concept was so popular that it even overrode the little regulation that existed then. In recent years, the increase in accounting regulation started to put in jeopardy the status of this concept. Indeed, one may think that true and fair no longer serves a useful purpose as it reflects and is defined only by the rules set. Had it not been for its symbolic role, this principle would have disappeared; still it remains very vivid in British accounting. The notion of a true and fair view has always been central in British accounting. Indeed, in 1947, following the tradition of 'full and fair' statements in the 1844 Join stock Companies Act or 'true and correct' requirements issued in 1900, the Companies Act stated that financial reporting should give a 'true and fair view' of financial statements.

See similar documents : Finance

1
 
Critical discussion on the definition of assets and liabilities contained in the IASC Framework

Presentation  |  07/28/2008   |  en  |  .doc  |  6 pages

2
 
Comparative international accounting systems and practices

Presentation  |  09/28/2006   |  en  |  .doc  |  26 pages

3
 
Auditing a bank

Indian project  |  04/13/2009   |  en  |  .doc  |  37 pages

4
 
Fair Value Implications for the Asset Mix of a Pension Fund

Presentation  |  07/27/2006   |  en  |  .doc  |  86 pages

5
 
Ethics: A study of moral issues

Term papers  |  05/16/2009   |  en  |  .doc  |  12 pages

Latest in the category : Finance

1
 
A study on the credit rating process and methodology

Term papers  |  10/28/2009   |  en  |  .doc  |  9 pages

2
 
An overview of important concepts and theories in relation to foreign exchange (forex) rates

Term papers  |  10/28/2009   |  en  |  .doc  |  10 pages

3
 
A study on the various sources of finance

Term papers  |  10/28/2009   |  en  |  .doc  |  14 pages

4
 
The financial expenses of a hotel

Term papers  |  10/28/2009   |  en  |  .doc  |  10 pages

5
 
Financial ratios: Meaning, calculation and application

Term papers  |  10/14/2009   |  en  |  .doc  |  10 pages

Most downloaded in the last 30 days : Finance

1
 
Joint venture

Term papers  |  06/16/2009   |  en  |  .doc  |  3 pages

2
 
The sub-prime loans crisis and the recent turbulences in the credit markets (2008)

Presentation  |  05/12/2009   |  en  |  .doc  |  6 pages

3
 
Efficiency analysis of conventional and Islamic banks in Indonesia using data envelopment analysis

Research papers  |  10/01/2009   |  en  |  .doc  |  18 pages

4
 
Automotive bailout: Ontario ministry of education

Term papers  |  07/29/2009   |  en  |  .doc  |  5 pages

5
 
The subprime crisis

Presentation  |  01/20/2009   |  en  |  .doc  |  8 pages

Change Currency

Content partner :

pencil image Acepublisher.com is a pioneer in validating and publishing top quality content.
Level :General public

From the same author :

The French energy market

Term papers  |  09/30/2009  |  us  |  .doc  |  8 pages

Delocalization: Advantages, inconveniences and consequences

Term papers  |  09/29/2009  |  us  |  .doc  |  10 pages

Strategic management in an organization

Term papers  |  09/29/2009  |  us  |  .doc  |  14 pages