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It violates a cardinal principal of accounting called representational faithfulness.
What accountants call "representational faithfulness"–that accounting should paint a fair picture, not a distorted one is still the standard, at least one hopes it is.
In the recent revision of their conceptual frameworks, the IASB and FASB decided to replace "reliability", arguably one of the most important properties of accounting, with "representational faithfulness".
These principles, borrowing from the natural sciences, equate accuracy with representational faithfulness.
It shows the activities to produce seemingly 'accurate' accounts to be interconnected with particular political objectives and styles of knowing as much as representational faithfulness [ 62, 63].
Similar(53)
More than faith, Mr. Wills admires faithfulness.
Four years later, he still avoids the word, trumpeting his faithfulness without specifying the faith.
We also prove the faithfulness of the transformation from a sequence diagram to its CCS representation.
Great is your faithfulness".
Representational games abound.
Faithfulness was number one.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com