what is accounting concept? explian in brief?
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Answer Posted / shraddha
Accounting concepts are
1 Going concern concept
2 money measurement concept
3 Dual aspect concept
4 Business entity concept
5 matching concept
6 Accounting period concept
7 Realization concept
8 Materiality concept
9 accrual concept
10 cost concept these are the all accounting concepts
All these cocepts are used in accounts functioning
for reducing problems or mistakes in accounting these
concepts are made
Such as dual aspect concept means double entry has
transferred
Entity concept means transaction are transferred to
enterpeneurs A/C etc.
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