In any research and development driven company the intellectual property will be labelled as an asset once patents or copyrights can be applied. There is no specific accounting concept tied to this.
It uses the matching concept which provides more accurate reporting that's why it is recommended to be used.
concept of responsibility accounting
accounting concept are the basic knowledge of accounting on which basis monetry transation are made in accounting book.
There are eight accounting concepts: Business entity concept, cost concept, going concern concept, matching concept, objectivity concept, unit of measure concept, adequate disclosure concept, and accounting period concept
basic principle of accounting
The accrual concept concerns the matching of costs and revenues for the reporting period.
It uses the matching concept which provides more accurate reporting that's why it is recommended to be used.
Business Entity
concept of responsibility accounting
accounting concept are the basic knowledge of accounting on which basis monetry transation are made in accounting book.
There are eight accounting concepts: Business entity concept, cost concept, going concern concept, matching concept, objectivity concept, unit of measure concept, adequate disclosure concept, and accounting period concept
where are 7 Accounting concept in the books of CIE which are done for methods e.g deprecation=prudence if the company will complete forward=going concern etc.idea is more basic to accounting than the accounting unit or entity, a term used to identify the organization for which the accounting service is to be provided and whose accounting or other...Accounting concept are customs and tradition which are used as a guide for preparation of financial statements
basic principle of accounting
basic concepts of accounting
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idea is more basic to accounting than the accounting unit or entity, a term used to identify the organization for which the accounting service is to be provided and whose accounting or other information is to be analyzed, accumulated, and reported.
SUBSTANCE OVER FORM is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form.