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Accounting Disclosure Practices – An Over View
Journal of Finance and Accounting
Volume 8, Issue 4, July 2020, Pages: 208-211
Received: Mar. 4, 2020; Accepted: Jun. 8, 2020; Published: Aug. 19, 2020
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Komati Durga Prasad, ICFAI Law School, Management Faculty, ICFAI Foundation for Higher Education, Hyderabad, India
Soofi Asra Mubeen, Business Studies Department, Higher College of Technology, Muscat, Oman
Banda Rajani, Department of Commerce and Business Management, Chaitanya Deemed to Be University, Warangal, India
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The accounting principles consist of both concepts and conventions. Among different conventions, the disclosure convention is the most important one. The information should be presented in such a manner that it can be easily understood by a person of average knowledge and prudence. The Company Act 1956 not only requires that Income Statement and Balance Sheet of a company must give prescribed forms in which these statements are to be prepared. In recent years, many business enterprises have broadened the scope of their activities to different industries foreign counties and market. Due to the growth of diversified business and expansion of firms into foreign market, consolidated information becomes non-homogeneous information. The problems of disclosure can be resolved in the light of the objectives of financing reporting. The methods of disclosure include Income Statement, balance Sheet, Statement of Retained earnings, and Funds Flow statement.
Accounting, Conventions, Accounting Standards, Generally Accepted Accounting Principles
To cite this article
Komati Durga Prasad, Soofi Asra Mubeen, Banda Rajani, Accounting Disclosure Practices – An Over View, Journal of Finance and Accounting. Vol. 8, No. 4, 2020, pp. 208-211. doi: 10.11648/j.jfa.20200804.16
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This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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