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What is Entity Concept? a . A boundary is drawn around each organization. This means personal assets and expenses are not part of the company
What is Entity Concept?
a A boundary is drawn around each organization. This means personal assets and expenses are not part of the company
b You have to report accounting info at regular intervals
c Assume the business will continue to operate for the foreseeable future
d You only use GAAP for things that really make a difference or are significant to the company
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Auditing An International Approach
Authors: Wally J. Smieliauskas, Kathryn Bewley
6th edition
978-0070968295, 9781259087462, 978-0071051415
