Interested to Buy Any Domain ? << Click Here >> for more details...
what are accounting principles?
- 4 Answers
- 7170 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / heera
There are 3 Accounting principles. They are
1.Personal Accont:Receiver=Dr
Giver=Cr
2. Nominal Account:Expences/Losses=Dr
Incomes/Gains=Cr
3. Real Account:What Comes in=Dr
What Goes Out=Cr
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / t.r.n. sivakumar
Accounting principles consist of Accounting Concepts and
Accounting Conventions.
Accounting Concepts:
1. Business entity concept.
2. Dual Aspect concept
3. Accounting period concept.
4. Money measurement concept.
5. Realisation concept.
6. Matching concept.
7. Accrual concept.
8. Cost concept.
9. Going concern concept.
10.Rupee concept.
Accounting Convention:
1. Convention of consistency.
2. Convention of convervatism.
3. Convention of full disclosure.
4. Convention of materiality
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / h.r. sreepada bhagi
Accounting principles consist of Concepts & Conventions
mentioned by Sivakumar. There's no Rupee concept. These
principles are relevant all over the world under double
accounting system.
What's mentioned by Heera are Accounting Rules and not
principles.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / isaac kamya
these include-cost principle,
revenue principle,
matching principle,
disclosure principle.
| Is This Answer Correct ? | 0 Yes | 0 No |
Whatis the Journal entry for advance payments and advance receipts from Debtors and creditors
what is capital market and money market? what is primary market and secondary market?
Expand STP?
how can i solve accounting problems easily ????tell me the basics
How do the accounting standards facilitate the work of accountants?
what is the three basic rules of accounting?
What is chargeback and purpose of chargeback?
Explain Cash Basis of accounting
what is reconciliation ?
What is Deferred Capital Expenditure / Deferred Revenue Expenditure
what is IRP?
WHAT IS THE DIFFERENCE BETWEEN SEND FOR APPROVAL (WITHOUT PARKING) AND ASSIGNMENT CORRECT IN MYSAP FI POSTING?
Audit 
