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- Convention_of_conservatism abstract "The convention of conservatism, also known as the doctrine of prudence in accounting is a policy of anticipating possible future losses but not future gains. This policy tends to understate rather than overstate net assets and net income, and therefore lead companies to "play safe".In accounting, it states that when choosing between two solutions, the one that will be least likely to overstate assets and income should be selected.According to this concept "expected losses are losses but expected gains are not gains".On the basis of this concept closing stock is valued at cost price or market price, whichever is lower.Provision for bad and doubtful debts are maintained.".
- Convention_of_conservatism wikiPageExternalLink guide.htm.
- Convention_of_conservatism wikiPageID "9810095".
- Convention_of_conservatism wikiPageRevisionID "592022756".
- Convention_of_conservatism hasPhotoCollection Convention_of_conservatism.
- Convention_of_conservatism subject Category:Accounting.
- Convention_of_conservatism subject Category:Finance.
- Convention_of_conservatism subject Category:Investment.
- Convention_of_conservatism comment "The convention of conservatism, also known as the doctrine of prudence in accounting is a policy of anticipating possible future losses but not future gains.".
- Convention_of_conservatism label "Convention of conservatism".
- Convention_of_conservatism sameAs m.02psxyz.
- Convention_of_conservatism sameAs Q5166278.
- Convention_of_conservatism sameAs Q5166278.
- Convention_of_conservatism wasDerivedFrom Convention_of_conservatism?oldid=592022756.
- Convention_of_conservatism isPrimaryTopicOf Convention_of_conservatism.