Convention of Disclosure

The Convention of Disclosure means that accounts must be honestly prepared and all
material information must be disclosed in the financial statements. Full disclosure does not mean disclosure of each and every item of information. It only means disclosure of such information which is of significance to owners, creditors & investors.

Accounting Conventions

Accounting Conventions Learning Objectives: What are accounting conventions? Explain important accounting conventions. The term “conventions” includes those customs or traditions which guide the accountants while preparing the accounting statements. The following are the important accounting conventions. Convention of Disclosure Convention of Materiality Convention of