Archive for the ‘Accounting’ Category
Exact Science
Comments (1)For accounting is also not an exact science, how can we do better in programming?
“In our opinion, the financial statements … present fairly, in all material respects … in conformity with generally accepted accounting principles …
This wording emphasizes that accounting and auditing are not exact sciences. Because the framework of GAAP provides room for interpretation and the application of GAAP necessitates the making of estimates, the auditor can render only an opinion about whether the financial statements present fairly or conform in all material respects to GAAP.” – Financial Accounting 9th Edition – Needles Power
