PRINCÍPIOS DA CONTABILIDADE -ENTIDADE,CONTINUIDADE,OPORTUNIDADE,VALOR ORIGINAL,COMPETÊNCIA,PRUDÊNCIA

Learn about the Fundamental Accounting Principles in this video: ENTITY; CONTINUITY; OPPORTUNITY; RECORDING AT ORIGINAL VALUE; ACCRUAL BASIS and PRUDENCE! The Fundamental Accounting Principles represent the central core of Accounting itself, in its condition as a social science, being inherent to it. The principles always constitute the cornerstones of a science, possessing the attributes of universality and truthfulness, maintaining validity in any circumstance. In the case of Accounting, given its object, its Fundamental Accounting Principles apply to all assets, regardless of the Entities to which they belong, the purposes for which they are used, the legal form they take, their location, expressiveness and any other qualifiers, provided they enjoy the condition of autonomy in relation to other existing assets. LINKS MENTIONED IN THE VIDEO: BOOK Fundamental Principles and Brazilian Accounting Standards ** https://cfc.org.br/wp-content/uploads... Revocation of Resolution No. 750/1993: context and considerations ** https://cfc.org.br/noticias/revogacao... **** Principle of monetary updating (REVOKED) The effects of changes in the purchasing power of the national currency must be recognized in accounting records through the adjustment of the formal expression of the values ​​of asset components. Article 1. The application of the "Principle of Monetary Updating" is mandatory when the accumulated inflation in the three-year period is 100% or more. Sole paragraph. Accumulated inflation will be calculated based on the General Market Price Index (IGPM), calculated monthly by the Getúlio Vargas Foundation, due to its general acceptance and recognition by national and international organizations. Article 2. The mandatory application of the "Principle of Monetary Updating" must be widely disclosed in the explanatory notes to the financial statements. Article 3. When the accumulated inflation rate over the three-year period is less than 100%, the application of the Principle of Monetary Updating may only occur in financial statements that are supplementary to the current financial statements derived from regular accounting records. § 1. In the case of the existence of said supplementary statements, the updating must be evidenced in the respective explanatory notes, including an indication of the inflation rate used. § 2. In this case, Monetary Updating will not generate any accounting entry. Accounting has come to be guided by certain principles. According to Niyama and Silva (2008), there are two conceptual structures for accounting in Brazil: a) Basic Conceptual Structure of Accounting – research conducted by the Foundation Institute of Accounting, Actuarial and Financial Research (FIPECAFI), approved by the Brazilian Institute of Accountants (IBRACON) and the Securities and Exchange Commission (CVM). b) Conceptual Structure of the CFC (Federal Accounting Council) / CRC (Regional Accounting Council) System. Deliberation No. 29/86 had as its structure the postulates, the principles, and the conventions. The postulates are considered the foundation of all accounting, and from them originate the principles and conventions. In this case, the entity and continuity are considered postulates. Marion (2010) compares the postulates to the foundation, the principles to the walls, and the conventions to the roof. Accounting is prepared for an entity, usually a legal entity. The going concern principle stipulates that an entity is constituted for an indefinite period. If we look at Deliberation No. 539/08, we can already see the changes; the structure becomes the basic assumptions and the qualitative characteristics of the financial statements. Video link:    • PRINCÍPIOS DA CONTABILIDADE -ENTIDADE,CONT...   Follow the channel for more studies on the financial market, stock exchange, book summaries, and accounting. This channel is for recording studies and sharing knowledge! Here on this channel you will find: Summaries of books I've read, main ideas learned. Various studies of Technical + Fundamental Analysis Dollar and index studies conducted on weekends Some academic articles read TradingView tutorials Accounting concepts Advanced accounting concepts Analysis of company financial statements Subscribe and follow!! This is just the beginning! 👊🐰 ACCOUNTING ACCOUNTANT ACCOUNTING SCIENCE ACCOUNTING ASSETS LIABILITIES EQUITY EQUITY THIRD-PARTY CAPITAL UNCOVERED LIABILITIES ___________________________________________ #ACCOUNTING #PRINCIPLES #GCOELHO