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Basic concepts 2

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Tanmoy Porel
Tanmoy Porel

Powerpoint presentation of BFA Foundation

EducationBusinessTechnology
1 of 5
ACCOUNTING CONCEPTS Business entity concept/Entity concept/Reporting concept Going concern concept Accounting period concept/Periodicity concept Money measurement concept Dual aspect concept * Assets * Capital * Creditors
ACCOUNTING CONCEPTS (contd.) Cost concept Periodic matching of cost and revenue concept Verifiable objective evidence concept Realisation concept Disclosure concept Materiality concept Consistency concept Conservatism concept
FORMS OF BUSINESS Sole proprietorship Partnership Limited Company Limited Liability Partnership
SYSTEM OF RECORDING TRANSACTION Single Entry System Double Entry System
RECORDING BUSINESS TRANSACTIONS Journal Ledger Trial Balance Financial Statement Profit and Loss Account Statement of Retained Earnings Balance Sheet Cash Flow Statement

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Basic concepts 2

  • 1. ACCOUNTING CONCEPTS Business entity concept/Entity concept/Reporting concept Going concern concept Accounting period concept/Periodicity concept Money measurement concept Dual aspect concept * Assets * Capital * Creditors
  • 2. ACCOUNTING CONCEPTS (contd.) Cost concept Periodic matching of cost and revenue concept Verifiable objective evidence concept Realisation concept Disclosure concept Materiality concept Consistency concept Conservatism concept
  • 3. FORMS OF BUSINESS Sole proprietorship Partnership Limited Company Limited Liability Partnership
  • 4. SYSTEM OF RECORDING TRANSACTION Single Entry System Double Entry System
  • 5. RECORDING BUSINESS TRANSACTIONS Journal Ledger Trial Balance Financial Statement Profit and Loss Account Statement of Retained Earnings Balance Sheet Cash Flow Statement