reliable

Examples of reliable in the following topics:

• Reporting Contingencies

  • The amount of the loss can not be reliably measured or estimated.
  • A probable loss contingency can be measured reliably if it can be estimated based on historical information.
  • Such contingent liabilities can be estimated reliably based on historical cost and readily available information.

• Cost of Equipment

  • Fixed assets, according to International Accounting Standard (IAS) 16, are long range assets whose cost can be measured reliably.

• Income Statement Formats

  • However, information of an income statement has several limitations: items that might be relevant but cannot be reliably measured are often not reported.

• Objectives of Accounting

  • They are progressively replacing the many different national accounting standards.The rules to be followed by accountants to maintain books of accounts which is comparable, understandable, reliable and relevant as per the users internal or external.

• Outputs of Accounting

  • Financial statements should be understandable, relevant, reliable, and comparable.

• Special Reporting

  • Diluted earnings per share are considered a more reliable way to measure earnings per share.

• Reporting Intangibles

  • Others note that with a purchased intangible, a reliable number for the cost of the intangible can be determined.

• Valuing Repairs, Maintenance, and Additions

  • Such contingent liabilities can be estimated reliably based on historical cost and readily available information.

• Gross Profit Method

  • Use projected gross profit ratio or historical gross profit ratio whichever is more accurate and reliable.

• Calculating Fair Value

  • FASB indicates that assumptions enter into models that use Level 2 inputs, a condition that reduces the precision of the outputs (estimated fair values), but nonetheless produces reliable numbers that are representationally faithful, verifiable and neutral.