Limitations Of Accounting Disadvantages Of Accounting Detailed
Limitations of Accounting, What are the Limitations of Accounting: Accounting is not fully exact: Accounting is influenced by the personal judgment in respect of various terms.People are bound to have different ideas and the estimates will naturally differ from person to person. Thus this will lead to the different amount of profit shown by a different person.Thus the profit cannot be treated as exact. The following are the limitations of accounting: (i) Accounting information is expressed in terms of money: The accountant measures only those events that are of financial nature i....