Issue 2, 2002

Volkov D. L. Financial Accounting Assumptions as a Base for Organizational Accounting Policy

The detailed analysis of financial accounting assumptions as a base for developing accounting policy in organization is presented in this article. The necessity of each of those assumptions is substantiated and their impact on accounting process in organization is described. The relationship between accounting policy assumptions and principles of facts recognition, their measurement (valuation) and information disclosure is considered. The author provides the comparative analysis of Russian, International and American accounting standards.

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