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