Accounting Disclosure Practices – An Over View

Komati Durga Prasad; Soofi Asra Mubeen; Banda Rajani

doi:doi:10.11648/j.jfa.20200804.16

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Accounting Disclosure Practices – An Over View

Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani

Published in Journal of Finance and Accounting (Volume 8, Issue 4)

Received: 4 March 2020 Accepted: 8 June 2020 Published: 19 August 2020

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Abstract

The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.

Published in	Journal of Finance and Accounting (Volume 8, Issue 4)
DOI	10.11648/j.jfa.20200804.16
Page(s)	208-211
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Accounting, Conventions, Accounting Standards, Generally Accepted Accounting Principles

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APA Style

Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani. (2020). Accounting Disclosure Practices – An Over View. Journal of Finance and Accounting, 8(4), 208-211. https://doi.org/10.11648/j.jfa.20200804.16

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ACS Style

Komati Durga Prasad; Soofi Asra Mubeen; Banda Rajani. Accounting Disclosure Practices – An Over View. J. Finance Account. 2020, 8(4), 208-211. doi: 10.11648/j.jfa.20200804.16

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AMA Style

Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani. Accounting Disclosure Practices – An Over View. J Finance Account. 2020;8(4):208-211. doi: 10.11648/j.jfa.20200804.16

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@article{10.11648/j.jfa.20200804.16,
  author = {Komati Durga Prasad and Soofi Asra Mubeen and Banda Rajani},
  title = {Accounting Disclosure Practices – An Over View},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {4},
  pages = {208-211},
  doi = {10.11648/j.jfa.20200804.16},
  url = {https://doi.org/10.11648/j.jfa.20200804.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200804.16},
  abstract = {The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.},
 year = {2020}
}

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TY  - JOUR
T1  - Accounting Disclosure Practices – An Over View
AU  - Komati Durga Prasad
AU  - Soofi Asra Mubeen
AU  - Banda Rajani
Y1  - 2020/08/19
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200804.16
DO  - 10.11648/j.jfa.20200804.16
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 208
EP  - 211
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200804.16
AB  - The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.
VL  - 8
IS  - 4
ER  -

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Author Information

Komati Durga Prasad

ICFAI Law School, Management Faculty, ICFAI Foundation for Higher Education, Hyderabad, India
Soofi Asra Mubeen

Business Studies Department, Higher College of Technology, Muscat, Oman
Banda Rajani

Department of Commerce and Business Management, Chaitanya Deemed to Be University, Warangal, India

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APA Style

Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani. (2020). Accounting Disclosure Practices – An Over View. Journal of Finance and Accounting, 8(4), 208-211. https://doi.org/10.11648/j.jfa.20200804.16

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ACS Style

Komati Durga Prasad; Soofi Asra Mubeen; Banda Rajani. Accounting Disclosure Practices – An Over View. J. Finance Account. 2020, 8(4), 208-211. doi: 10.11648/j.jfa.20200804.16

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AMA Style

Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani. Accounting Disclosure Practices – An Over View. J Finance Account. 2020;8(4):208-211. doi: 10.11648/j.jfa.20200804.16

Copy | Download

@article{10.11648/j.jfa.20200804.16,
  author = {Komati Durga Prasad and Soofi Asra Mubeen and Banda Rajani},
  title = {Accounting Disclosure Practices – An Over View},
  journal = {Journal of Finance and Accounting},
  volume = {8},
  number = {4},
  pages = {208-211},
  doi = {10.11648/j.jfa.20200804.16},
  url = {https://doi.org/10.11648/j.jfa.20200804.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20200804.16},
  abstract = {The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Accounting Disclosure Practices – An Over View
AU  - Komati Durga Prasad
AU  - Soofi Asra Mubeen
AU  - Banda Rajani
Y1  - 2020/08/19
PY  - 2020
N1  - https://doi.org/10.11648/j.jfa.20200804.16
DO  - 10.11648/j.jfa.20200804.16
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 208
EP  - 211
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20200804.16
AB  - The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.
VL  - 8
IS  - 4
ER  -

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