The Firmâ€™S Patrimony Â€“ An International Approach
AbstractThis article is meant to reinterpret the balance equation of the Patrimony. Any book about the Foundations of Accountancy presents in the chapter â€œThe Object of Accountancyâ€, the patrimonial equation mentioned above. We state the following affirmation: in the accountancy of a firm, everything is thought over from the point of view of the respective firm. However, this small detail seems to have been overlooked by authors of accountancy manuals when they presented the equation mentioned above. And we observed that this small detail attracted a lot of confusion even among people with many years of experience in accountancy. This article will offer a new point of view regarding the concept of a firmâ€™s Patrimony on an international approach.
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Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Financial Management and Accounting Craiova in its journal Journal of Applied Economic Sciences.
Volume (Year): 5 (2010)
Issue (Month): 4(14)/ Winter 2010 ()
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Web page: http://www2.spiruharet.ro/facultati/facultate.php?id=14
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accountancy; patrimony; assets; liabilities; ownerâ€™s equity;
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