Difference between Accounting Concepts and Conventions
- 1 Answers
- 4709 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / prasanth jenjuluri
Concepts tend to be written in the accounting standards whereas conventions are not and are assumed.
Examples of concepts would be: Accruals concept, Prudence concept.
Examples of conventions would be: double entry, accounting equation (assets - liabilities = capital)
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
a.what products does your firm produce? b.what costs are asssigned to the product produced? c.for particular product,what direct materials are used? d.what percentage of total manufactoring costs is direct labor? direct materials?overhead? e.how is overhead assigned to the products? f.do you now use or plane to use an activity_based management system?why or why not?
VAT PER SURCHARG KAB SE KIS DATE SE LAG RAHA HAI
Please provide me the entire format of P.F. & ESI
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
can any one send me tally professional version link
please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com
PLZZZZZZZZZZZZ HELP ME FOR THE PREPARATION OF TEST JR.EXECUTIVE (ADMIN)IN ATM IAM APPEARED 1ST TIME IN THIS TEST MY TEST CENTER IS RAWALPINDI MY CONTACT NO IS 03338907330
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
Explain a time when you have not met your goal?
describe any accounting process that you have developed or revised
what is the new rate of c.s.t in uttraklhand
What is account payee cheque? Expand ctc cheque?
Tell me what is your track record for consistently achieving your targets?
rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.
What is your greatest achievement and why?
