ACCOUNTING CONCEPTS AND CONVENTIONS
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Answer / guest
Concepts of accounting:
Separate entity concept
Going concern concept
Money measurement concept
Cost concept
Dual entity concept
Accounting period concept
Periodic matching of costs and revenue concept(Matching
concept)
Realization concept
Conventions of accounting
Conservatism
Full disclosure
Consistency
Materiality
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Answer / nikhil krishna
it is the accounting conceprts are...Separate entity
concept,Going concern concept,Money measurement
concept,Dual entity concept
| Is This Answer Correct ? | 4 Yes | 0 No |
ACCOUNTING CONCEPTS:
1 MONEY MEASURMENT CONCEPT
2 DUAL ASPECT CONCEPT
3 SEPARATE ENTITY CONCEPT
4 ACCRUAL CONCEPT
5 PERIODICITY CONCEPT
6 REALISATION CONCEPT
7 MATERIALITY CONCEPT
ACCOUNTING CONVENTIONS:
1 CONVENTION OF CONSERVATISM
2 CONVENTION OF CONSISTANCY
3 CONVENTION OF DISCLOSER
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / b.veerasekhar
accounting principles can be classifieds into two
categaries 1.accounting concepts and 2.accounting convention
1.accounting concepts means assumption are condition upon
which accounting is based.
2.acounting convention refers to customs,tradition,usages
are practices followed by an accountant as guide in
preparation of financial statements
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