lfm01

The preparers of financial statements have to contend Pandora Chains on sale the uncertainties that inevitably surround many events and circumstances such as the collectability of doubtful receivables the probable useful life of plant Gold Beads Charms on sale equipment purchased for pollution control any other environmental liabilities claims that may occur. Such uncertainties are recognized by the disclosure of their nature Pandora Necklaces on sale extent and by the exercise of prudence in the preparation of the financial statements. Prudence is the inclusion of a degree of caution in the exercise Silver Beads Charms on sale the judgments needed in making the estimates required under conditions of uncertainty such that assets or income are not overstated and liabilities or expenses are not understated. However the exercise of prudence does not allow, for example, the creation of hidden reserves or excessive provisions the deliberate understatement of assets or income or the deliberate overstatement of liabilities or expenses because the financial statements would not be neutral and. therefore. not have the quality of reliability.