Why do accounting principles emphasize the use of historical cost as the basis of preparation of accounting

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Why do accounting principles emphasize the use of historical cost as the basis of preparation of accounting statements, to arrive at the surplus or deficit in the business undertaking for a specific accounting period?

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Fundamentals Of Accounting And Financial Analysis

ISBN: 9788131776070

1st Edition

Authors: Anil Chowdhury

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Question Posted: Jul 18, 2024 07:00 AM

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Why do accounting principles emphasize the use of historical cost as the basis of preparation of accounting

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Fundamentals Of Accounting And Financial Analysis

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