Interested to Buy Any Domain ? << Click Here >> for more details...
Difference between Accounting Concepts and Conventions
- 1 Answers
- 4603 Views
- Genpact, I also Faced
- E-Mail Answers
Answer / prasanth jenjuluri
Concepts tend to be written in the accounting standards whereas conventions are not and are assumed.
Examples of concepts would be: Accruals concept, Prudence concept.
Examples of conventions would be: double entry, accounting equation (assets - liabilities = capital)
| Is This Answer Correct ? | 1 Yes | 0 No |
what is proviosion for bad debts and provision for bad and doubtfull debts
what is core Accounting? explan in brief?
What is the present Central sales tax rate in India? Also let me know the maxium and minium sales tax rate in India. If the VAT rate changed of any state what will be the impact of CST.
how many type of vat
What is an Debenture
what does mean ledger
why and how does bills receivable increases assets??
Dear sir, presently iam working in manufacturing industry as an account that is ( cement industry) may i expect good work here or not?
Accounts Paybles & accounts Recivable are Real A/c , Personal or Nominal A/cs ?
what is the difference between NEFT and RTGS ?
What do mean by GL Reporting ?
Explain me how much mathematics knowledge is necessary or required in accounting?
Audit 
