ACCOUNTING CONCEPTS AND CONVENTIONS

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ACCOUNTING CONCEPTS AND CONVENTIONS..

Answer / jimoh sikiru abolaji

discuss in detial accounting concepts and convention and
stating clearly limitation of each of them

Is This Answer Correct ?

14 Yes

3 No

ACCOUNTING CONCEPTS AND CONVENTIONS..

Answer / b.t.mallikarjunarao

ACCOUNTING CONCEPTS
business entity concept
money measurement concept
going concern concept
relaisation concept
cost concept
dual entry concept
CONVENTIONS
consistency
disclore
relevance
feasibility
conservation

Is This Answer Correct ?

7 Yes

2 No

ACCOUNTING CONCEPTS AND CONVENTIONS..

Answer / kspatwal

As said earlier, concepts are the basic assumptions or
conditions upon which the science of
accounting is based. There are five basic concepts of
accounting, namely – business entity
concept, which is also termed as separate entity concept,
going concern concept, money
measurement concept, periodicity concept and accrual
concept. Each concept is discussed
below.

In what manner we implement these concepts in our daily
life are the conventions.

Is This Answer Correct ?

4 Yes

2 No

ACCOUNTING CONCEPTS AND CONVENTIONS..

Answer / arjunanag@rocketmail.com

accounting concepts are actually 6. but some authors are
wrote 10

1. business entity concept
2. money measure concept
3. cost concept
4. duel concept
5. going concern concept
6. accounting period concept

concepts are reffered "ASSUMPTIONS"

conventions:

1. consistence
2. disclosure
3. materiality
4. conservatism

conventions are reffered "GUIDENCE"