4.7 Reporting the substance of transactions Flashcards Preview

Interpreting Financial & Accounting Information > 4.7 Reporting the substance of transactions > Flashcards

Flashcards in 4.7 Reporting the substance of transactions Deck (1)
Loading flashcards...
1
Q

What is meant by the “substance” of transactions?

A

The economic benefits or losses associated with a transactions.

Decks in Interpreting Financial & Accounting Information Class (161):