Page 43 - PowerPoint Template
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Full Disclosure
The company should report the sufficient information
(ie: relevant, reliable, comparable) so that external
parties can make a reasonable decision.
Example:
Farida businesses have made changes in stock
valuation method used. The company did not disclose
the information in the financial statements for the
accounting period.
Explanation:
The situation does not comply with the concept of full
disclosure where a change is made it should be
reported in the notes to the accounts. The aim is to
inform the user of changes in the financial statements.
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