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Harmonisation of accounting practices 0

Harmonisation of accounting practices

A process in which we try to increase the compatibility of accounting practices by removing different limits is known as Harmonisation. A lot of times it is considered as standardization but it has way...

What is Historical Costing – Fair Value Vs Historical Costing 1

What is Historical Costing – Fair Value Vs Historical Costing

Under the historical cost concept assets are valued under their original cost under globally accepted accounting principles which also known as GAAP. If your company purchases bought an asset at 10000$ cost ten such...