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What are Accounting Concept?
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Answer / shilpa
Accounting Concept are customs & tradtions which are used
as a guide for preparation of financial statements.
Following are the types of Accounting Concepts
1)Money Measurement Concept
2)Legal Aspect Concept
3)Matching Concept
4)Accrual Concept
5)Dual Aspect concept
6)Cost Concept
7)Financial period Concept
8)Business Entity Concept
9)Revenue Concept
10)Realisation Concept
| Is This Answer Correct ? | 113 Yes | 12 No |
Answer / prami
Business Entity concept.
Money mesurment concept.
Cost concept.
Dual ascept concept.
Matchimg concept.
Accural concept.
| Is This Answer Correct ? | 64 Yes | 16 No |
Answer / sushil mohan
Accounting Concepts are the principles followed by a
business concern regarding the Recording, Classifying,
Summerizing of transactions and the Analysis and Evaluation
of results. Accounting Concepts are as follow:
1.Seperate Entity Concept
2.Going Concern Concept
3.Money Measurement Concept
4.Cost Concept
5.Dual Aspect Concept
6.Accrual Concept
7.Accounting Period Concept
8.Relization Concept
9.Periodic Matching Concept
| Is This Answer Correct ? | 51 Yes | 9 No |
Answer / murali royal
Accounting concepts: Means The basic conditions and basic
assumptions based on accounting is done.
Concept: Means an idea or notion or thought which should be
accepted by universal.
They are:
1. Accrual concept
2. Accounting period concept
3.Business entity concept
4.Cost concept
5.Dual aspect concept
6.Money measurement concept
7.Matching concept
8.Going concern concept
9.Historical concept
10.Realization concept
| Is This Answer Correct ? | 23 Yes | 0 No |
Answer / mahesh
The following are the important generally acctable concepts.
1.Entity Concept
2.Going concern Concept
3.Money measurement Concept
4.Cost Conceot
5.Accounting period Concept
6.Dual Concept
7.Matching Concept
8.Realisation Concept
9.Balance sheet Equation Concept
10.Verification and Objective evidance Concept
11.Accrual Concept
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / s shrestha
The following concept are the accepted accounting concept.
1-Entity concept
2-Money measurement concept
3-Going concern concept
4-Cost concept
5-Realization concept
6-Accrual concept
7-periodicity concept
8-Matching concept
9-Dual aspect concept
10-Consistency concept
11-Conservatism concept
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / bashir a.y.i
these are set of guiding principles that are used to
minimise differece in the preparation and interpretation of
financial statement. some of the major convention include;
1. going concern
2. matching and accruals
3. prudency
4. realisation
5. entity
| Is This Answer Correct ? | 12 Yes | 8 No |
Answer / uruthran
the concept which guide us in idenfying measuring and
recording the transaction.
1.business entity concept
2.money measurement concept
3.objective evidence concept
4.historical record concept
5.cost concept
6.dual ascept concept
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / geeta gautam
accounting concepts
1.business entity concepts
2.going concern con.
3.money measurement con.
4.dual aspect con.
5.accounting period con.
6.historical cost con.
7.accual con.
8.matching con.
9.variable objective evidence con.
10.realisation con.
| Is This Answer Correct ? | 3 Yes | 0 No |
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Do I need a waybill in the following case:- If I purchase (on bill) small quantity goods (like artificial jewelry) from one state (say Delhi) and transports it personally (say via flight) to other state (say West Bengal) along with my personal belongings and then I put them to sell through my boutique in that state. Do I need waybill? If yes, what will be the procedure? Do I need to pay entry tax at WB? What will be the procedure? Am I doing anything unlawful while transferring goods personally? Please give your advice. Regards, Manoj
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