Various views of accounting
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Commercial, financial and taxation accounting rules ..... their own purposes and, as a consequence, differences in the results should be expected and accepted.
Commercial accounting rules are used to determine the commercial results of a single entity, and establish, in particular, whether a profit or a loss has resulted for ..... period.
The rules are intended to protect the rights of shareholders and creditors and, as a consequence, the ..... principle occupies an important place.
Financial accounting and reporting rules are part of a country's capital ..... regulations.
Their objective is to give investors and other stakeholders a reliable and as accurate as possible picture of the financial situation of the economic entity (group); the guiding principle is '.....'.
Other important rules in this respect are 'substance over form', 'market value measurement', and the factual prohibition of hidden ......
Taxation rules are used to determine taxable profits, and their objective is to define the tax liability of enterprises to the ......
The rules must be susceptible to ..... by taxpayers and control and enforcement by tax authorities.
Taxation rules for companies are usually designed to preserve economic neutrality, so that business decisions are not ..... influenced by fiscal measures.
Tax laws reflect general principles of taxation, such as non-discrimination or taxation according to economic capacity, but also ..... such as availability of funds for payment of the liability and long-term profitability.