THE CONSERVATISM PRINCIPLE IN MODERN FINANCIAL REPORTING

Aleksandra Arsenijević

DOI Number
https://doi.org/10.22190/FUEO200723027A
First page
375
Last page
383

Abstract


Various studies point out that the principle of conservatism (prudence) has been too long in the field of accounting, which makes it almost irreplaceable. However, the development of accounting is in line with constant expansion of the circle of stakeholders who impose new requirements regarding information on sources of income, destination of expenditures and calculation of periodic results. This inevitably leads to changes in financial reporting, aimed primarily at applying the fair value concept.


Keywords

the conservatism principle, the historical cost concept, the fair value concept

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References


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DOI: https://doi.org/10.22190/FUEO200723027A

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