THE PRINCIPLE OF PRUDENCE IN ACCOUNTING: NORMATIVE LEGAL REGULATION THE PROBLEMS OF APPLICATION

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Issue: №3 2017

Heading: Topical issues of science and law enforcement practice

Tags

Keywords: the principle of prudence, contingent facts, contingent liabilities, contingent assets estimated liabilities estimated assets

Annotation

The peculiarities of application of the precautionary principle in the accounting process and economic activities of the organization. The application of this principle is ambiguous and leads to a conflict of interest between the goals of the organization, top management and shareholders (owners).