Answer / h.r. sreepada bhagi

Accounting Principles(Not Principals) are the Concepts &
Conventions followed in recording Financial
(Accounting)Transactions and preparation of Financial
Statements. Accounting Principles are the basic guidelines
for maintenance of accounting records. A few examples are -
1.Business Entity Concept.
2.Going Concern Concept
3.Matching Concept.
4.Accounting Period Concept.
5.Dual Aspect (Debit/Credit)
6.Materiality Concept.
7.Money Measurement Concept
8.Consistency Convention, etc.

Accounting Standards are specific Guidelines to be followed
while maintaining Financial records & preparation of
Financial Statements under GAAP applicable to the business
entities in the respective countries. Accounting Standards
may be IFRS, US GAAP, Indian GAAP or GAAP in other countries.

Answer / sumitra.raghavan

accounting principles are guidelines that helps in proper
recording of transaction as per certain concepts and
conventions.its helps in preparing accounts on a std
basis.example maching concepts

Answer / pradipta

Accounting principal is consisting of the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements.

how can i make transaction related to inflation account in sap ?

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PLEASE EXPLAIN DEBIT NOTE & CREDIT NOTE?WITH THE FOLLOWING QUESTION? 1)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS SUPPLIER(CREDITOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS? 2)IF X LTD.SOLD MATERIAL @ RS.112500/-WITH INCLUSIVE VAT @ 12.5% TO HIS CUSTOMER(DEBTOR),BUT AFTERWORD THEY FOUND THAT THE MATERIAL COMES UNDER 5% VAT RATE CATEGORY.SO HOW THEY ADJUST THEIR LOSS RS.7500/- IN THEIR BOOKS?

1 Answers   URC Construction,

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Do you take interview for Your Assistant at your field, yes so what is first Question

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What is invoice accounting rules?

0 Answers   Sandoz, Wipro,

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Hi friends ineed finacial analyst interview question Pls share it

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sensex is increased and decreased in share market? why?

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what is depriciation

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How many types of Purchase Orders?

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How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing

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diff. between accounts & finance

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what are the financial reports to be accompanied with income tax return of a business concern?

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does MIS reports are used in Tally n Focus software? if yes how it is used in focus software? for AR n AP

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