Objectivity Principle requires that accounting transaction should be recorded in an objective manner, free from the personal bias of either management or the accountant who prepares the accounts. Copy the link given below and paste it in new browser window to get more information on Objectivity Principle:- http://www.transtutors.com/homework-help/accounting/accounting-basics-objectivity-principle/

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

7. What is GAAP?
• Generally Accepted Accounting Principles
• Defined as the set of accepted industry
rules, practices and guidelines for financial
accounting
• Includes the standards, conventions, and
rules accountants follow in recording and
summarizing transactions, and in the
preparation of financial statements

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