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keep accounting - translation to English
![Reconstructed wooden keep at [[Saint-Sylvain-d'Anjou]]](https://commons.wikimedia.org/wiki/Special:FilePath/Donjon chateau a motte saint sylvain.jpg?width=200 "Reconstructed wooden keep at [[Saint-Sylvain-d'Anjou]]")
![A 19th-century reconstruction of the keep at [[Château d'Étampes]]](https://commons.wikimedia.org/wiki/Special:FilePath/Etampes Donjon - enhanced.png?width=200 "A 19th-century reconstruction of the keep at [[Château d'Étampes]]")
![colony]] of [[Bermuda]], with its Keep at the northern (right) end](https://commons.wikimedia.org/wiki/Special:FilePath/Royal Naval Dockyard Bermuda circa 1899 Ordnance Survey map by Lieutenant Arthur Johnson Savage, RE.jpg?width=200 "colony]] of [[Bermuda]], with its Keep at the northern (right) end")
Definition
Wikipedia
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straight forward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions and if it is followed by the company while preparing the Financial statements then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required.
Some important elements that accounting standards cover include: identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames.
