Explain Convention of Conservation
Give a brief introduction of the term ‘Convention of Conservation’?
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This accounting convention is usually expressed as to “expect all the prospect losses and expenses, with no considering the prospect incomes and profits if not they are really realized.” This concept stress that profits must never be anticipated or overstated. This convention usually executes to the valuation of current assets as they are valued at cost or market price either is lower.
On December 31, 20x1, the Juniper Company purchase a group of four assets for a total cost of $850,000. An independent appraiser assesses the fair value of each asset as follows: Asset Fair Value Land $100,000 Building 600,000 Equipment 250,000 Fixtures 150,000 Prepare the jour
Write down the advantages of IFRS.
Hello, 1 have an assignment due in on the 20/03/20114 and I would like to know if it is possible to have it done and what the cost will be. I have attached the the assignment and an example of the report format it is suppose to be in.
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