Principle of Accounting Financial Statement Discussion

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vatthv

Business Finance

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I just need one or two paragraghs about this question (100 to 130 word). just quick answer is enough it doesn't require many detail (just concept)

Within the context of valuation methodology and disclosure, discuss the concepts of “Relevance” and “Representational Faithfulness”. In what circumstances might you have one, but not the other, or both? Could one have neither? Provide and discuss some examples of each scenario, as well as the risk and ramifications.

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Attached.

Running head: PRINCIPLE OF ACCOUNTING

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Principle of Accounting
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PRINCIPLE OF ACCOUNTING

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Principle of Accounting

The relevance principle requires that financial information be appropriate for it to be
useful to external users. Faithful represen...


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