Abstract
The first purpose of this chapter is to explain and define the major items that appear in financial accounting. There is a gap between the general principles we have been discussing so far, and the detail of many SSAPs. SSAP 12 on depreciation, for example, defines depreciation in the context of ‘fixed assets’. However, it makes no attempt to define ‘fixed assets’, or even ‘assets’!
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© 1990 D.J.A. Alexander
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Alexander, D. (1990). Towards a general framework?. In: Financial Reporting. Springer, Boston, MA. https://doi.org/10.1007/978-1-4899-7118-0_7
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DOI: https://doi.org/10.1007/978-1-4899-7118-0_7
Publisher Name: Springer, Boston, MA
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