Amazon rubber boom the expansion of Iquitos in Peru. The rubber boom occurred largely between 1879 and 1912. There was heightened rubber production and associated activities from 1942 to 1945 during the Second World War. Natural rubber is an elastomer, also known as tree gum, India rubber, and "caoutchouc," which comes from the rubber tree in tropical regions. Christopher Columbus was the one of the first Europeans to bring news of this odd substance back to Europe, but he was not the only one to report it. Around 1736, a French astronomer recalled how Amerindians used rubber to waterproof shoes and cloaks. He
Substance over form Substance over form Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". If an entity practices the 'substance over form' concept, then the financial statements will show the overall financial reality of the entity (economic substance), rather than the legal form of transactions (form). In accounting for business transactions and other events, the measurement and reporting is for the economic impact of an event, instead of its legal form. Substance over form is critical for reliable financial reporting. It is particularly relevant in cases of