DPS Accounting Solutions will be closed from Monday 16th December until Tuesday 14th January for the break. Happy Holidays!
Fundamental Concepts of Accounting
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that