in dual aspect every transaction has two transactions if there is any debit entry then there must be credit entry.
There are 12 key accounting concepts. These concepts are, money - management, going concern, entity, dual aspect, cost, realization, time period, objectivity, conservatism, materiality, matching, and consistency.
It is based on Accounting Principle of Dual Aspect of Money http://www.freembanotes.in/finance/accountancy/30-accounting-equation
The concept of duality means that every business transaction will have a dual effect on the accounting equation.
Accounting has close relationship with mathematics. The dual aspect concept, which is the basic concept of accounting, is expressed as a mathematical equation, known as accounting equation. Accounting computations such as computation of depreciation, determination of loan instalment, ascertaining of cash price in case of hire purchase and instalment systems requires use of mathematical techniques. Accountants now use statistical models, computers and operation research techniques. All these require knowledge of mathematics.
concept of responsibility accounting
Dual Aspect concept: This state that there are two aspects of accounting, one represented by the assets of the business and the other by the claims against them. The concept states that these two aspect are always equal to each other. In other words, this is the alternate form of the accounting equation: Assets=Liabilities+Capital Dual aspect concept is known as "Double Entry Book Keeping System".
There are 12 key accounting concepts. These concepts are, money - management, going concern, entity, dual aspect, cost, realization, time period, objectivity, conservatism, materiality, matching, and consistency.
It is based on Accounting Principle of Dual Aspect of Money http://www.freembanotes.in/finance/accountancy/30-accounting-equation
The concept of duality means that every business transaction will have a dual effect on the accounting equation.
The concept of duality means that every business transaction will have a dual effect on the accounting equation.
Accounting has close relationship with mathematics. The dual aspect concept, which is the basic concept of accounting, is expressed as a mathematical equation, known as accounting equation. Accounting computations such as computation of depreciation, determination of loan instalment, ascertaining of cash price in case of hire purchase and instalment systems requires use of mathematical techniques. Accountants now use statistical models, computers and operation research techniques. All these require knowledge of mathematics.
Accounting has close relationship with mathematics. The dual aspect concept, which is the basic concept of accounting, is expressed as a mathematical equation, known as accounting equation. Accounting computations such as computation of depreciation, determination of loan instalment, ascertaining of cash price in case of hire purchase and instalment systems requires use of mathematical techniques. Accountants now use statistical models, computers and operation research techniques. All these require knowledge of mathematics.
concept of responsibility accounting
accounting concept are the basic knowledge of accounting on which basis monetry transation are made in accounting book.
Financial accounting is a recording, summaring, classifying, communication, anlaysing of business transactions in oder to ascertain the financial position at a given time. and the trms use in financial accounting are: The dual concept in accounting, that is Debit the receiver's account and credit the Giver's account
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