The document outlines two categories of accounting principles: accounting concepts and accounting conventions. Key accounting concepts include the business entity concept, money measurement concept, and going concern concept, while conventions cover consistency and disclosure. For further information, additional resources can be accessed via the provided link.

2. ACCOUNTING PRINCIPLES
Accounting principles can be subdivided into
two categories:
 Accounting Concepts; and
 Accounting Conventions.

3. ACCOUNTING PRINCIPLES
Accounting Concepts
The term ‘concept’ is used to connote
accounting postulates, that is necessary
assumptions and conditions upon which
accounting is based.

5. • Business Entity Concept
• Money Measurement Concept
• Cost Concept
• Going Concern Concept
• Dual Aspect Concept
• Realization Concept
• Accounting Period Concept
Accounting Concepts

6. ACCOUNTING CONVENTIONS
• Convention of Consistency
• Convention of Disclosure
• Convention of Conservation

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measurement-concept/