Accounting procedures always changes according to the transformations in business environment. In all cases, the changes are always consistent with the existing accounting principles or standards. One such example is the overtrading activity that can happen in exchange transactions of similar non-current assets. Using the overtrading activitiy as an example, this article relates the change in accounting procedures to account for valuation discrepancy intrinsic in this activity to accounting principles. In other words, the article aims to show how theory guides practice. ..... By Kalaithasan Kuppusamy

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