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According to George Herbert Mead, macro-sociological theories
Disclosure
The act of making information known, especially financial data in the context of accounting, to ensure transparency and informed decision-making.
Accounting Principle
Fundamental concepts or guidelines that govern the field of accounting and instruct the recording and reporting of financial transactions.
Reporting Entity
An entity for which there are users who rely on its financial statements as a major source of financial information about the entity.
Retrospective Approach
An accounting method that applies a new policy or standard to transactions, events, and conditions as if the new policy or standard had always been in effect.
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