Economic Entity Assumption Going Concern Assumption Monetary Unit Periodicity(Time Period) Assumption
What are the Basic Activities of accounting?
basic principle of accounting
The basic accounting principles is that the accounting transactions should be recorded in the accounting periods Second important principle is record all the expenses and liabilities as soon as they occur.
The preparation of accounting information is based on certain fundamental principles which are named as accounting assumptions. These are, like any other assumptions, things that accountant assumes before he prepares accounting information. For example: every asset that an organization has is depreciated for future, because accounting supposes that it is going to be used in the future. In most cases, it will be but in some cases it won't, but as an accountant you must always assume or suppose that it will. There are various other assumptions, or principles that accounts make believe while preparing accounting information. Some of them, which I know of, are: * Business Entity Concept * Going Concern concept * Historical Cost concept * Accounting Period Concept * Materiality concept * Full Disclosure concept All these concepts are known as accounting assumptions, there may be few more which I am , at this moment, oblivious to. Manish Regmi
what are the implications of accounting principles
accounting assumptions provide a foundation for recording the transactions and preparing the financial statements there from.
basic concepts of accounting
What are the Basic Activities of accounting?
When you ask a question in the form "Which of the following...", you must provide some options. We can't see your assignment paper.
13 basic features of financial accounting?
basic principle of accounting
basic principle of accounting
There are 10 basic irrational assumptions that trigger maladaptive emotions and behaviors
Time Period Assumption
Theorems
wy is the major and basic assumptions very important in the preparation of the feasibility study?
Basic accounting is a requirement for all business majors.