February 2007
Intermediate to advanced
288 pages
6h 32m
English
book
Crash Course in Accounting and Financial Statement Analysis, Second Edition
by Matan Feldman, Arkady Libman
Content preview from Crash Course in Accounting and Financial Statement Analysis, Second Edition
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Basic Principles Revisited: Historical Cost and Conservatism
Recall that financial statements report company’s resources—including most balance sheet items—at their historical (acquisition) cost.
By not allowing assets to be overstated, the historical cost principle is an example of conservatism.
Governed by the historical cost principle, the balance sheet does not report the true market value of a company, only its resources and funding at their historical cost.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.