Accounting Principles Assignment

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  • Hey Tom I think we have some mistakes within our business.
  • What are you talking about Jim??
  • Sir, I think Tom is right. We should call an accountant!
  • Hey Super Accountant we here at Nomen need your help. Please come asap!!
  • Oh these guys need my help, better get over there asap!
  • You look confused, Im here to correct your mistakes
  • I don't think there are any mistakes actually.
  • First of all we will be using the going concern principle
  • That means we are going to assume that this company will continue to exist long enough to carry out its objectives
  • Okay lets have a look at your financial statements
  • Oh ya sure go ahead!
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