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Answer Posted / 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
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