ACCOUNTING CONCEPTS AND CONVENTIONS
Answer Posted / kspatwal
As said earlier, concepts are the basic assumptions or
conditions upon which the science of
accounting is based. There are five basic concepts of
accounting, namely – business entity
concept, which is also termed as separate entity concept,
going concern concept, money
measurement concept, periodicity concept and accrual
concept. Each concept is discussed
below.
In what manner we implement these concepts in our daily
life are the conventions.
Is This Answer Correct ? | 4 Yes | 2 No |
Post New Answer View All Answers
• What are the types of cash flows?
how to do the recurring entries or steps to follow that
i did mba finance in 2010,but i came from life sciences to mba,i know in interview they ask y u came from sciences,so what i tell?pls reply me.
what do you mean by financial analysis and technical analysis ?
what is Journal Entries?
What do we mean by the term "Securities" when we say that "Govt injecting/sucking liquidity in/out of the system by buying/selling securities?
Please share different type of Z report
Define Payee
what is the accounting conventions
Explain valuation methods of Normal and Abnormal loss
Whatis new GL & Odd G.L What is the difference between these two.
We have two mandatory qualifiers nature of accounts and balancing segment, which will balance the debit and credit and recognize the nature of accounts, my question is what other qualifiers do. Like management. Thank you.
In order to comply with the matching principle, adjustment entries are made at the preparation of ----------
You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6
why the RRB'S not lend loans directly to farmers?