IndigoLearn

Meaning and scope

What is the meaning of "ACCOUNTING DATA IS MORE USEFUL IF IT STRESSES ECONOMIC SUBSTANCE RATHER THAN TECHNICAL FORM


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

09-Jul-20 08:40

2

Answers (2)

It is the concept of substance over form. Accounting data / reports should reflect the true intention of transaction that complicated legal structures based on which some entries may be passed.


Sriram Somayajula

Sriram Somayajula

Admin

09-Jul-20 08:45

Thank you sir


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

09-Jul-20 08:46