Re: Discounting a prepayment

Troy Steadman wrote:

> Oscar wrote:

> "Prudence" is an over-riding Accounting Principle

Not any more

> (when not over-ridden
> by "Matching", "Substance over Form", "Consistency", I can't remember
> the other three) so you can hardly be faulted for discounting a
> prepayment. Except by the professionals here who will immediately cry
> "Foul!"

Accruals (matching), going concern and consistency
.