1. Assertions about categories of minutess and events:
I. Happening: minutess and events so recorded in the fiscal statements really occurred and relates to the same period. II. Completeness: all such minutess and events that required entering have been recorded III. Accuracy: minutess and accessory information have been recorded with accurate sums IV. Cutoff: merely those minutess and events have been recorded that pertains to the accounting period under consideration V. Classification: minutess and events have been recorded in the related histories decently 2. Assertions about history balances at the period terminal:
I. Being: all the assets. liabilities and other involvements that appear in the fiscal statements really exist. II. Rights and duties: the assets presented in the fiscal statements are really assets for which entity holds the ownership right or has all the necessary controls the right to utilize the plus. Similarly. the liabilities recorded are really the duties of the entity. III. Completeness: all the assets. involvements and duties of the entity that required entering have been recorded in the fiscal statements IV. Evaluation and allotment: all the assets. duties and equity involvements have been valued suitably and if any allotment was need than it has been done already. 3. Assertions about presentation and revelation:
I. Occurrence and rights and duties: minutess. events and the related or other affairs disclosed in the fiscal statements really occurred. II. Completeness: all the necessary revelations that required entering have been recorded. III. Classification and comprehensibility: fiscal information in the fiscal statement has been presented suitably with clear look of revelations to the extent possible to assist users of fiscal statements. IV. Accuracy and valuation—financial or non-financial information is disclosed in the fiscal statements reasonably.