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what are the three basic acounting principles.what is
account reconcilliation.what is portfolio management
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Answer Posted / anshuk doliya
Going Concern Principle - This accounting principle assumes
that a company will continue to exist long enough to carry
out its objectives and commitments and will not liquidate
in the foreseeable future. If the company's financial
situation is such that the accountant believes the company
will not be able to continue on, the accountant is required
to disclose this assessment.
The going concern principle allows the company to defer
some of its prepaid expenses until future accounting
periods.
Full Disclosure Principle
Consistency
Whether managing a household budget with the use of a
personal checking account or working in the accounting
department of a business, chances are that you will engage
in account reconciliation on a regular basis. Essentially,
account reconciliation has to do with making sure that the
amount of liquid assets you show in the checkbook are
identical to the account balance shown on your bank
statement as of the same date. Here are some tips on how to
engage in account reconciliation that is simple, easy and
accurate
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