The document outlines accounting principles, divided into accounting concepts, which include various foundational postulates, and accounting conventions that govern consistency and disclosure. Key concepts mentioned are the business entity, money measurement, cost, and going concern concepts, among others. It also briefly touches upon the revenue recognition principle and provides a link for more detailed information.

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.

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

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

10. This was just a summary on Revenue Recognition Principle. For
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