What is the principle of prudence?

The concept of the principle of prudence is the set of rules established in the recording of income. According to this definition of the principle of prudence, the company must record each of the movements and transactions of income and expenses. For this reason, the principle of prudence will be recorded in the Generally accepted … Read more

What is emancipation?

The concept of emancipation allows a minor who has an age between 16 and 18 years, to have total freedom to act and grants ability to act. This person is endowed with the ability to make decisions and act for himself, as if he were of legal age. Motives for emancipation A person can be … Read more

What is an audit?

An audit is the reflection in its purest state of the accounting in a company. The definition of auditing is somehow understood as the related process carried out in a company with the main objective of gathering information from business accounting. What is an audit for? The audit serves to test a company in terms … Read more