Finance Junkie
Posts: 49
Joined: Thu Aug 09, 2012 4:45 pm


Postby deepakkrkanodia » Mon Jan 21, 2013 3:24 pm

Q1. An item should be recognized in its financial element if future economic benefit from item is probable.
what is meant by probable and what is the difference between probable economic benefit and possible economic benefit

Q2. It is written in schweser that " accountng estimate changes (result of changes on management judgement due to new information) does not affect cash flow".
so i want to know how will management judgement will not affect cash flow as it will impact the earnings, which will affect the cash flow ultimately.


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