1. ACCOUNTING CONCEPTS AND CONVENTIONS BY-: PRIYASH 0129618 NIKHIL 0129626

3. CONTENTS-: Accounting Concepts…………… Meaning……… Types………… Accounting Conventions………. Meaning……… Types…………. Difference B/w Accounting Concepts & Conventions…………………..

4. ACCOUNTING CONCEPTS -: In order to make the accounting language convey the same meaning to all people & to make it more meaningful, most of the accountants have agreed on a number of concepts which are usually followed for preparing the financial statements. These concepts provide a foundation for accounting process. No enterprise can prepare its financial statements without considering these concepts.

26. DIFFERENCE B/W CONCEPTS & CONVENTIONS Biasness in adoption No space for personal biasness in the adoption Biasness No uniform adoption Uniform adoption Uniformity Guidelines based upon customs or usage By law Established ACCOUNTING CONVENTIONS ACCOUNTING CONCEPTS BASIS

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