what are accounting principles?
Answers were Sorted based on User's Feedback
Answer / heera
There are 3 Accounting principles. They are
1.Personal Accont:Receiver=Dr
Giver=Cr
2. Nominal Account:Expences/Losses=Dr
Incomes/Gains=Cr
3. Real Account:What Comes in=Dr
What Goes Out=Cr
Is This Answer Correct ? | 9 Yes | 3 No |
Answer / t.r.n. sivakumar
Accounting principles consist of Accounting Concepts and
Accounting Conventions.
Accounting Concepts:
1. Business entity concept.
2. Dual Aspect concept
3. Accounting period concept.
4. Money measurement concept.
5. Realisation concept.
6. Matching concept.
7. Accrual concept.
8. Cost concept.
9. Going concern concept.
10.Rupee concept.
Accounting Convention:
1. Convention of consistency.
2. Convention of convervatism.
3. Convention of full disclosure.
4. Convention of materiality
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / h.r. sreepada bhagi
Accounting principles consist of Concepts & Conventions
mentioned by Sivakumar. There's no Rupee concept. These
principles are relevant all over the world under double
accounting system.
What's mentioned by Heera are Accounting Rules and not
principles.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / isaac kamya
these include-cost principle,
revenue principle,
matching principle,
disclosure principle.
Is This Answer Correct ? | 0 Yes | 0 No |
Entry for the settlement of loans?
Answered but misspelled pl correct HELPS US TO KNOW THE ARTHEMATICAL OF THE BOOKS OF ACCOUNTS (ANS.NCELABALAIRT)
What exactly is derivatives segment. can u explain futures and options with examples...
Break-even analysis
Give some example of real,personal & nominal accounts , & which kind of a/c reflect p&l & BS.
20 Answers Banking, HSBC, IT Industry, Motilal Oswal, SLK,
What type of Questions are asked for Interview in Infosys - Financial Process. Any one who is into Research Analyst or Process Executive role, kindly contribute the Questions faced by you?
Describe the types of routing?
How do you avoid loss situation
Expand---------SBDC
what are the fundamentals of book keeping
What rate of sales tax will be applicable on printing machine spares selling from haryana to other state.
Expand ------NITES