Revenue Recognition Principle | Accounting
•Download as PPTX, PDF•
0 likes•900 views
In accounting, income or profit means excess of revenue over expenses. The revenue recognition principle is related to revenues only and not to the expenses. Copy the link given below and paste it in new browser window to get more information on Revenue Recognition Principle:- http://www.transtutors.com/homework-help/accounting/basic-principles-revenue-recognition/
Report
Share
Report
Share
Recommended
Objectivity Principle | Accounting
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/
Periodicity Assumption | Accounting
Periodicity Assumption is related to going concern concept which presumes that a business is likely to continue Meaning of Periodicity Assumptionfor an indefinite period of time. Copy the link given below and paste it in new browser window to get more information on Periodicity Assumption:- http://www.transtutors.com/homework-help/accounting/basic-assumption-periodicity/
Money Measurement Concept | Accounting
It is correctly said that, “Accounting was born without prior notice and brought up in negligence”. It means accountancy was first practiced and its principles (that is, rules and guidelines) were developed later on. Copy the link given below and paste it in new browser window to get more information on Money Measurement Concept:- http://www.transtutors.com/homework-help/accounting/accounting-basics-money-measurement-concept/
Accoutning concepts, principles and conventions
Here are provided some details of following concepts, principles and conventions of accounting:
1. Entity Concept
2. Money Measurement Concept
3. Periodicity Concept
4. Accrual Concept
5. Matching Concept
6. Going on Concern Concept
7. Cost Concept
8. Principle of Prudence
9. Realization Concept
10. Dual aspect Concept
11. Consistency
12. Materiality
Hope, basic of these concepts is easy to understand.
Thanking you
Dual Aspect Concept | Accounting
It is correctly said that, “Accounting was born without prior notice and brought up in negligence”. It means accountancy was first practiced and its principles (that is, rules and guidelines) were developed later on. Copy the link given below and paste it in new browser window to get more information on Dual Aspect Concept:- http://www.transtutors.com/homework-help/accounting/accounting-basics-dual-aspect-concept/
Gaap
GAAP refers to the common set of accounting principles, standards and procedures that ensure consistent accounting procedures are followed in recording business transactions and preparing financial statements. GAAP is based on basic accounting assumptions like separate entity, monetary unit and time period, as well as principles like historical cost, full disclosure and revenue recognition. Publicly traded companies must follow GAAP to provide transparent and consistent financial reporting. Similarly, IAS are international standards that facilitate cross-border capital flows and global business by standardizing financial reporting across countries.
Accounting assumptions
Basic standard accounting assumptions
Read this for more :
What is Going Concern ?
The financial statements are normally prepared on the assumption that an enterprise will continue in operation in the foreseeable future and neither there is intention, nor there is need to materially curtail the scale of operations. Going concern assumption is not likely to be compatible with the intention or necessity to enter into a scheme of arrangement with the enterprise’s creditors or to liquidate in near future.
Financial statements prepared on going concern basis recognise among other things the need for sufficient retention of profit to replace assets consumed in operation and for making adequate provision for settlement of its liabilities. If any financial statement is prepared on a different basis, e.g. when assets of an enterprise are stated at net realisable values in its financial statements, the basis used should be disclosed.
What is Consistency ?
The principle of consistency refers to the practice of using same accounting policies for similar transactions in all accounting periods. The consistency improves comparability of financial statements through time. An accounting policy can be changed if the change is required (i) by a statute (ii) by an accounting standard (iii) for more appropriate presentation of financial statements.
What is Accrual basis of accounting ?
Under this basis of accounting, transactions are recognised as soon as they occur, whether or not cash or cash equivalent is actually received or paid. Accrual basis ensures better matching between revenue and cost and profit/loss obtained on this basis reflects activities of the enterprise during an accounting period, rather than cash flows generated by it.
While accrual basis is a more logical approach to profit determination than the cash basis of accounting, it exposes an enterprise to the risk of recognising an income before actual receipt. The accrual basis can therefore overstate the divisible profits and dividend decisions based on such overstated profit lead to erosion of capital. For this reason, accounting standards require that no revenue should be recognised unless the amount of consideration and actual realisation of the consideration is reasonably certain.
GAAP principles
The document discusses Generally Accepted Accounting Principles (GAAP), which are the common set of standards, procedures, and processes that companies use to maintain and report their financial information. It outlines several key GAAP concepts, including the separate entity concept, money measurement concept, and matching concept. It also discusses accounting conventions like materiality and full disclosure that guide how information is presented in financial statements. GAAP helps provide a standardized and fair representation of a company's financial position and ensures financial reports are informative to stakeholders.
Recommended
Objectivity Principle | Accounting
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/
Periodicity Assumption | Accounting
Periodicity Assumption is related to going concern concept which presumes that a business is likely to continue Meaning of Periodicity Assumptionfor an indefinite period of time. Copy the link given below and paste it in new browser window to get more information on Periodicity Assumption:- http://www.transtutors.com/homework-help/accounting/basic-assumption-periodicity/
Money Measurement Concept | Accounting
It is correctly said that, “Accounting was born without prior notice and brought up in negligence”. It means accountancy was first practiced and its principles (that is, rules and guidelines) were developed later on. Copy the link given below and paste it in new browser window to get more information on Money Measurement Concept:- http://www.transtutors.com/homework-help/accounting/accounting-basics-money-measurement-concept/
Accoutning concepts, principles and conventions
Here are provided some details of following concepts, principles and conventions of accounting:
1. Entity Concept
2. Money Measurement Concept
3. Periodicity Concept
4. Accrual Concept
5. Matching Concept
6. Going on Concern Concept
7. Cost Concept
8. Principle of Prudence
9. Realization Concept
10. Dual aspect Concept
11. Consistency
12. Materiality
Hope, basic of these concepts is easy to understand.
Thanking you
Dual Aspect Concept | Accounting
It is correctly said that, “Accounting was born without prior notice and brought up in negligence”. It means accountancy was first practiced and its principles (that is, rules and guidelines) were developed later on. Copy the link given below and paste it in new browser window to get more information on Dual Aspect Concept:- http://www.transtutors.com/homework-help/accounting/accounting-basics-dual-aspect-concept/
Gaap
GAAP refers to the common set of accounting principles, standards and procedures that ensure consistent accounting procedures are followed in recording business transactions and preparing financial statements. GAAP is based on basic accounting assumptions like separate entity, monetary unit and time period, as well as principles like historical cost, full disclosure and revenue recognition. Publicly traded companies must follow GAAP to provide transparent and consistent financial reporting. Similarly, IAS are international standards that facilitate cross-border capital flows and global business by standardizing financial reporting across countries.
Accounting assumptions
Basic standard accounting assumptions
Read this for more :
What is Going Concern ?
The financial statements are normally prepared on the assumption that an enterprise will continue in operation in the foreseeable future and neither there is intention, nor there is need to materially curtail the scale of operations. Going concern assumption is not likely to be compatible with the intention or necessity to enter into a scheme of arrangement with the enterprise’s creditors or to liquidate in near future.
Financial statements prepared on going concern basis recognise among other things the need for sufficient retention of profit to replace assets consumed in operation and for making adequate provision for settlement of its liabilities. If any financial statement is prepared on a different basis, e.g. when assets of an enterprise are stated at net realisable values in its financial statements, the basis used should be disclosed.
What is Consistency ?
The principle of consistency refers to the practice of using same accounting policies for similar transactions in all accounting periods. The consistency improves comparability of financial statements through time. An accounting policy can be changed if the change is required (i) by a statute (ii) by an accounting standard (iii) for more appropriate presentation of financial statements.
What is Accrual basis of accounting ?
Under this basis of accounting, transactions are recognised as soon as they occur, whether or not cash or cash equivalent is actually received or paid. Accrual basis ensures better matching between revenue and cost and profit/loss obtained on this basis reflects activities of the enterprise during an accounting period, rather than cash flows generated by it.
While accrual basis is a more logical approach to profit determination than the cash basis of accounting, it exposes an enterprise to the risk of recognising an income before actual receipt. The accrual basis can therefore overstate the divisible profits and dividend decisions based on such overstated profit lead to erosion of capital. For this reason, accounting standards require that no revenue should be recognised unless the amount of consideration and actual realisation of the consideration is reasonably certain.
GAAP principles
The document discusses Generally Accepted Accounting Principles (GAAP), which are the common set of standards, procedures, and processes that companies use to maintain and report their financial information. It outlines several key GAAP concepts, including the separate entity concept, money measurement concept, and matching concept. It also discusses accounting conventions like materiality and full disclosure that guide how information is presented in financial statements. GAAP helps provide a standardized and fair representation of a company's financial position and ensures financial reports are informative to stakeholders.
Accounting assumptions
Accounting assumptions provide the foundation for the accounting process and are generally accepted without proof. The key assumptions include: continuity, which assumes a business will continue indefinitely; historical cost, which records transactions based on original cost; the entity assumption, which treats a business as separate from its owners; the monetary assumption, which uses currency to record all transactions; and the period assumption, which divides a business into arbitrary time periods for reporting.
GAAP & Accrual Accounting
Generally Accepted Accounting Principles (GAAP) provide standards for financial accounting and reporting. GAAP is developed and overseen by the Financial Accounting Standards Board (FASB) and addresses recognition, measurement, and disclosure. GAAP financial statements include an income statement, balance sheet, statement of cash flows, and notes. GAAP follows the accrual basis of accounting, where revenues are recognized when earned and expenses when incurred, regardless of the timing of cash flows. This allows financial reports to better match revenues with related expenses over time.
Principles of accounting
Department of Management- Principles of accounting
Financial Accounting
Accounting
financial reports
organization's management
stakeholders
income statement
Accounting as an Aid to Decision Making
ACCOUNTING PRINCIPLES
ACCOUNTING CONVENTIONS
The Balance Sheet
Balance Sheet Transactions
GAAP analysis
This document provides an overview of GAAP (Generally Accepted Accounting Principles) in India. It discusses that GAAP establishes uniform guidelines and standards for preparing financial statements so they are comparable. It outlines the objectives of GAAP such as promoting transparent financial reporting and cooperation between accountancy bodies. The document also explains the need for GAAP to make company financials understandable for investors and creditors. Some key accounting principles and standards are defined, including the matching principle, materiality principle, and standards for inventory, cash flows, and fixed assets. The Institute of Chartered Accountants of India oversees GAAP implementation.
Accounts
The document discusses key accounting concepts, conventions, policies, and standards. It provides explanations of four fundamental accounting concepts: accruals, consistency, going concern, and prudence. It also outlines four main accounting conventions: disclosure, materiality, consistency, and conservatism. The document notes that accounting policies are the specific procedures used by a company to prepare financial statements according to generally accepted accounting principles. Finally, it gives an example of how depreciation policies differ between Indian and US accounting standards.
Generally Accepted Accounting Principles
Generally Accepted Accounting Principles (GAAP) are the rules that govern how accountants measure, process, and communicate financial information to ensure consistent accounting procedures are followed. The key concepts of GAAP include the business entity concept, continuing concern concept, time period concept, consistency principle, conservatism principle, objectivity principle, materiality principle, monetary-unit concept, full disclosure principle, cost principle, revenue recognition convention, and matching principle. These concepts provide the framework and guidelines for proper accounting of financial transactions and reporting.
Accounting principles
1. The document discusses accounting principles and concepts from Accounting Principles, 7th Edition. It covers generally accepted accounting principles, the conceptual framework developed by the Financial Accounting Standards Board, objectives of financial reporting, qualitative characteristics of accounting information, and key assumptions and principles used in accounting.
2. The conceptual framework consists of objectives of financial reporting, qualitative characteristics of useful information, elements of financial statements, and operating guidelines including assumptions, principles, and constraints. The primary objective of financial reporting is to provide decision-useful information to investors and creditors.
3. Qualitative characteristics that make information useful include relevance, reliability, comparability, consistency, and understandability. Key principles discussed include revenue recognition using the percentage
Accounting concepts and conventions
difference between bookkeeping and accounting and accounting concepts and conventions good for the students of bba and bcom. may be useful for mba students also.
Accounting principles and concepts
The document discusses accounting concepts, conventions and principles. It defines accounting concepts as the fundamental assumptions underlying financial statement preparation and presentation. Some key concepts discussed include going concern, monetary measurement, historical cost, consistency and accrual. Accounting conventions ensure uniform application of concepts over time, through principles like materiality, conservatism and consistency. The document also examines accounting policies, methods, bases and assumptions that guide financial reporting.
Accounting principle & concept by sarmad baloch
Accounting principle & concept by sarmad baloch
I AM SARMAD KHOSA
BSIT (5TH A)
(ISP)
FACEBOOK PAGLE::
https://www.facebook.com/LAUGHINGHLAUGHTER/
YOUTUBE CHANNEL:::
https://www.youtube.com/channel/UCUjaIeS-DHI9xv-ZnBpx2hQ
GAAP Accounting (Generally accepted accounting principles)
This document provides an overview of 12 generally accepted accounting principles (GAAP): 1) Economic entity assumption 2) Monetary unit assumption 3) Time period concept 4) Cost principle 5) Full disclosure principle 6) Continuing concern concept 7) Consistency principle 8) Revenue recognition convention 9) Objectivity principle 10) Conservatism 11) Matching principle 12) Materiality. Each principle is briefly defined in 1-2 sentences.
Accounting basis 2
Global Leadership University provides lectures on accounting principles and concepts. The lectures cover topics such as the conceptual framework of accounting, accounting information, revenue recognition, the matching principle, and accrual basis versus cash basis accounting. Generally accepted accounting principles provide standards and rules for financial reporting and the Financial Accounting Standards Board is responsible for developing these principles.
Accounting conventions ppt @ mba finance
This document discusses accounting conventions and policies. It covers the sources of accounting concepts like IAS 1 and the IASB framework. Key accounting conventions are described, including fair presentation, going concern, accruals, and consistency. IAS1 requires these conventions be followed. The nature and purpose of accounting conventions is to influence how financial statement line items are recorded, valued, and presented.
Accounting principles , conventions and concepts
This document discusses accounting principles, conventions, and concepts. It defines generally accepted accounting principles (GAAP) as rules, guidelines, and principles derived from experience and practice that become accepted. The major accounting conventions discussed are conservatism, disclosure, and consistency. Finally, the document outlines 12 key accounting concepts including the period concept, dual aspect concept, money measurement concept, and accrual concept.
Accounting concepts and conventions
This document provides an overview of basic accounting terminologies, principles, concepts, and conventions. It defines key terms like assets, liabilities, equity, revenue, expenses, cash vs credit transactions. It explains accounting principles like business entity, money measurement, going concern, matching, and conventions like consistency and conservatism. Accounting equations are demonstrated through examples of business transactions that impact assets, liabilities and equity. Basic accounting concepts and their application to business record keeping are concisely introduced.
Accounting
Accounting Principles: Accounting Concept, Financial statements, Income statements, Owners Equity statement, Balance sheet, Statement of cash flows, financial statement of coca cola
GAAP (Generally Accepted Accounting Principles)
Generally Accepted Accounting Principles are those guidelines which gives clarity to the financial statements and protect the interest of the share holders and other stake holders of the firm.
4 acounting principle
This document discusses key accounting principles and concepts. It defines generally accepted accounting principles (GAAP) as principles that have substantial authoritative support and general acceptability. It classifies accounting principles into concepts and conventions. Some key concepts discussed include going concern, consistency, and accrual assumptions as well as the accounting entity, money measurement, matching, and revenue recognition principles. The document also explains conventions like materiality, conservatism, and the dual aspect principle.
Accounting; gaap principles
This is a presentation about Accounting GAAP principles. Thes principles govern Accounting practices worldwide.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles discussed are the entity principle, going concern principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide guidance on how transactions should be recorded and reported.
Day 3.pptx
This document provides an overview of double entry accounting and basic accounting concepts and conventions. It discusses key concepts such as the dual aspect concept, matching concept, accrual concept, and conventions like consistency and materiality. Double entry accounting is based on the idea that every transaction has a debit and credit. Basic accounting concepts establish guidelines for recording financial information, such as measuring transactions in monetary terms and treating the business as a separate entity from its owners.
More Related Content
What's hot
Accounting assumptions
Accounting assumptions provide the foundation for the accounting process and are generally accepted without proof. The key assumptions include: continuity, which assumes a business will continue indefinitely; historical cost, which records transactions based on original cost; the entity assumption, which treats a business as separate from its owners; the monetary assumption, which uses currency to record all transactions; and the period assumption, which divides a business into arbitrary time periods for reporting.
GAAP & Accrual Accounting
Generally Accepted Accounting Principles (GAAP) provide standards for financial accounting and reporting. GAAP is developed and overseen by the Financial Accounting Standards Board (FASB) and addresses recognition, measurement, and disclosure. GAAP financial statements include an income statement, balance sheet, statement of cash flows, and notes. GAAP follows the accrual basis of accounting, where revenues are recognized when earned and expenses when incurred, regardless of the timing of cash flows. This allows financial reports to better match revenues with related expenses over time.
Principles of accounting
Department of Management- Principles of accounting
Financial Accounting
Accounting
financial reports
organization's management
stakeholders
income statement
Accounting as an Aid to Decision Making
ACCOUNTING PRINCIPLES
ACCOUNTING CONVENTIONS
The Balance Sheet
Balance Sheet Transactions
GAAP analysis
This document provides an overview of GAAP (Generally Accepted Accounting Principles) in India. It discusses that GAAP establishes uniform guidelines and standards for preparing financial statements so they are comparable. It outlines the objectives of GAAP such as promoting transparent financial reporting and cooperation between accountancy bodies. The document also explains the need for GAAP to make company financials understandable for investors and creditors. Some key accounting principles and standards are defined, including the matching principle, materiality principle, and standards for inventory, cash flows, and fixed assets. The Institute of Chartered Accountants of India oversees GAAP implementation.
Accounts
The document discusses key accounting concepts, conventions, policies, and standards. It provides explanations of four fundamental accounting concepts: accruals, consistency, going concern, and prudence. It also outlines four main accounting conventions: disclosure, materiality, consistency, and conservatism. The document notes that accounting policies are the specific procedures used by a company to prepare financial statements according to generally accepted accounting principles. Finally, it gives an example of how depreciation policies differ between Indian and US accounting standards.
Generally Accepted Accounting Principles
Generally Accepted Accounting Principles (GAAP) are the rules that govern how accountants measure, process, and communicate financial information to ensure consistent accounting procedures are followed. The key concepts of GAAP include the business entity concept, continuing concern concept, time period concept, consistency principle, conservatism principle, objectivity principle, materiality principle, monetary-unit concept, full disclosure principle, cost principle, revenue recognition convention, and matching principle. These concepts provide the framework and guidelines for proper accounting of financial transactions and reporting.
Accounting principles
1. The document discusses accounting principles and concepts from Accounting Principles, 7th Edition. It covers generally accepted accounting principles, the conceptual framework developed by the Financial Accounting Standards Board, objectives of financial reporting, qualitative characteristics of accounting information, and key assumptions and principles used in accounting.
2. The conceptual framework consists of objectives of financial reporting, qualitative characteristics of useful information, elements of financial statements, and operating guidelines including assumptions, principles, and constraints. The primary objective of financial reporting is to provide decision-useful information to investors and creditors.
3. Qualitative characteristics that make information useful include relevance, reliability, comparability, consistency, and understandability. Key principles discussed include revenue recognition using the percentage
Accounting concepts and conventions
difference between bookkeeping and accounting and accounting concepts and conventions good for the students of bba and bcom. may be useful for mba students also.
Accounting principles and concepts
The document discusses accounting concepts, conventions and principles. It defines accounting concepts as the fundamental assumptions underlying financial statement preparation and presentation. Some key concepts discussed include going concern, monetary measurement, historical cost, consistency and accrual. Accounting conventions ensure uniform application of concepts over time, through principles like materiality, conservatism and consistency. The document also examines accounting policies, methods, bases and assumptions that guide financial reporting.
Accounting principle & concept by sarmad baloch
Accounting principle & concept by sarmad baloch
I AM SARMAD KHOSA
BSIT (5TH A)
(ISP)
FACEBOOK PAGLE::
https://www.facebook.com/LAUGHINGHLAUGHTER/
YOUTUBE CHANNEL:::
https://www.youtube.com/channel/UCUjaIeS-DHI9xv-ZnBpx2hQ
GAAP Accounting (Generally accepted accounting principles)
This document provides an overview of 12 generally accepted accounting principles (GAAP): 1) Economic entity assumption 2) Monetary unit assumption 3) Time period concept 4) Cost principle 5) Full disclosure principle 6) Continuing concern concept 7) Consistency principle 8) Revenue recognition convention 9) Objectivity principle 10) Conservatism 11) Matching principle 12) Materiality. Each principle is briefly defined in 1-2 sentences.
Accounting basis 2
Global Leadership University provides lectures on accounting principles and concepts. The lectures cover topics such as the conceptual framework of accounting, accounting information, revenue recognition, the matching principle, and accrual basis versus cash basis accounting. Generally accepted accounting principles provide standards and rules for financial reporting and the Financial Accounting Standards Board is responsible for developing these principles.
Accounting conventions ppt @ mba finance
This document discusses accounting conventions and policies. It covers the sources of accounting concepts like IAS 1 and the IASB framework. Key accounting conventions are described, including fair presentation, going concern, accruals, and consistency. IAS1 requires these conventions be followed. The nature and purpose of accounting conventions is to influence how financial statement line items are recorded, valued, and presented.
Accounting principles , conventions and concepts
This document discusses accounting principles, conventions, and concepts. It defines generally accepted accounting principles (GAAP) as rules, guidelines, and principles derived from experience and practice that become accepted. The major accounting conventions discussed are conservatism, disclosure, and consistency. Finally, the document outlines 12 key accounting concepts including the period concept, dual aspect concept, money measurement concept, and accrual concept.
Accounting concepts and conventions
This document provides an overview of basic accounting terminologies, principles, concepts, and conventions. It defines key terms like assets, liabilities, equity, revenue, expenses, cash vs credit transactions. It explains accounting principles like business entity, money measurement, going concern, matching, and conventions like consistency and conservatism. Accounting equations are demonstrated through examples of business transactions that impact assets, liabilities and equity. Basic accounting concepts and their application to business record keeping are concisely introduced.
Accounting
Accounting Principles: Accounting Concept, Financial statements, Income statements, Owners Equity statement, Balance sheet, Statement of cash flows, financial statement of coca cola
GAAP (Generally Accepted Accounting Principles)
Generally Accepted Accounting Principles are those guidelines which gives clarity to the financial statements and protect the interest of the share holders and other stake holders of the firm.
4 acounting principle
This document discusses key accounting principles and concepts. It defines generally accepted accounting principles (GAAP) as principles that have substantial authoritative support and general acceptability. It classifies accounting principles into concepts and conventions. Some key concepts discussed include going concern, consistency, and accrual assumptions as well as the accounting entity, money measurement, matching, and revenue recognition principles. The document also explains conventions like materiality, conservatism, and the dual aspect principle.
Accounting; gaap principles
This is a presentation about Accounting GAAP principles. Thes principles govern Accounting practices worldwide.
Qualitative characteristics & accounting principles slide show game
This document outlines key qualitative characteristics and accounting principles. The qualitative characteristics that make financial reports useful are comparability, understandability, relevance, and reliability. Some important accounting principles discussed are the entity principle, going concern principle, historical cost principle, consistency principle, conservatism principle, and monetary principle. These principles provide guidance on how transactions should be recorded and reported.
What's hot (20)
GAAP Accounting (Generally accepted accounting principles)
GAAP Accounting (Generally accepted accounting principles)
Qualitative characteristics & accounting principles slide show game
Qualitative characteristics & accounting principles slide show game
Similar to Revenue Recognition Principle | Accounting
Day 3.pptx
This document provides an overview of double entry accounting and basic accounting concepts and conventions. It discusses key concepts such as the dual aspect concept, matching concept, accrual concept, and conventions like consistency and materiality. Double entry accounting is based on the idea that every transaction has a debit and credit. Basic accounting concepts establish guidelines for recording financial information, such as measuring transactions in monetary terms and treating the business as a separate entity from its owners.
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
Principles of accounting, generally accepted accounting principles, gaap, accounting concepts, business entity concept, going concern concept, dual aspect concept, cost concept, money measurement concept, accounting period concept, realisation concept, matching concept, accounting conventions, convention of consistency, convention of full disclosure, convention of conservatism, convention of materiality
1.2. ACCOUNTING ASSUMPTIONS, PRINCIPLES AND CONCEPTS.pptx
This document discusses key accounting concepts, principles, and conventions. It defines fundamental accounting assumptions like going concern, consistency, and accrual. It explains generally accepted accounting principles (GAAP) and how they improve financial reporting clarity. Accounting principles refer to guidelines for selecting accounting procedures. Key concepts include separate entity, money measurement, and matching revenues with expenses. Accounting conventions like conservatism and consistency aim to improve financial statement quality. The differences between concepts and conventions as well as accrual and cash-based accounting are also outlined.
Accounting Concepts & Conventions
ACCOUNTING CONCEPTS:-
1. SEPARATE ENTITY CONCEPT – According to this concept, business is considered as a separate legal entity which has its distinct identity separate from its owner. This concept is extremely useful in keeping business affairs strictly free from private affairs of owner. This is the reason why withdrawal by owner from business is treated as drawing.
2. GOING CONCERN CONCEPT – According to this concept, it is assumed that business is established and will continue for a fairly long time in future. This is the reason why while valuing assets of firm current resale value is not taken into account instead depreciation is charge on basis of their expected life.
3. MONEY MEASUREMENT CONCEPT – According to this concept, accounting should necessarily record only those transactions which can be expressed in monetary terms. This is the reason why qualitative facts like change in management are not recorded in books of account.
4. COST CONCEPT – This concept is closely related to going concern concept and emphasizes that asset should be recorded at its cost price and not market price which keeps on changing.
5. DUAL ASPECT CONCEPT – The dual aspect concept states that every business transaction requires recordation in two different accounts. The concept is derived from the accounting equation, which states that: Assets = Liabilities + Equity .The accounting equation is made visible in the balance sheet, where the total amount of assets listed must equal the total of all liabilities and equity.
6. ACCOUNTING PERIOD CONCEPT – According to this concept, accounting should measure transactions at regular intervals for a specified period of time called accounting period. Necessary financial disclosures and reporting need to be made at the end of accounting period which may be quarterly, half-yearly or yearly.
7. MATCHING CONCEPT – This concept is also known as periodic matching of cost and revenue. According to this concept, profits made by business in particular accounting period can be ascertained only when the revenues earned during the period are compared with the expenses incurred in earning the revenue.
Accounting concepts
Accounting concept refers to the
Basic assumptions
Rules
Principles
which work as the basis of recording of business transactions and preparing accounts.
2. concepts and conventions of accounting mba 1st tri semester
The document discusses key accounting principles and concepts. It defines Generally Accepted Accounting Principles (GAAP) as the broad guidelines, conventions, rules, and procedures for accepted accounting practice. It outlines 10 fundamental accounting concepts: (1) business entity, (2) going concern, (3) money measurement, (4) double entry, (5) accounting period, (6) cost, (7) revenue recognition, (8) matching, (9) accrual, and (10) reliability. It also describes 4 important accounting conventions: (1) full disclosure, (2) conservatism, (3) consistency, and (4) materiality. The document provides details on the definition and application of
concepts in accounting
This document discusses key accounting concepts including:
- The business entity concept treats a business and its owners separately for accounting purposes.
- Under the going concern concept, businesses are viewed as continuing indefinitely. This affects recording of long-term assets at cost and depreciation.
- The accrual concept requires revenues to be recorded when earned and expenses when incurred, regardless of cash flow.
It also outlines other fundamental concepts like historical cost, matching, revenue recognition, accounting periods, money measurement, dual aspect, cost-benefit, and timely reporting principles. Key types of accounting concepts are defined such as business entity, going concern, accrual, historical cost, revenue recognition, and accounting periods.
Accounting Concepts and Conventions
This document discusses key accounting concepts and conventions. It defines accounting and outlines concepts such as the business entity, going concern, money measurement, dual aspect, accounting period, cost, realization, matching, and accrual. It also discusses conventions like full disclosure, consistency, materiality, and conservatism. The concepts and conventions establish the principles and framework for recording, classifying, and reporting financial information about economic entities.
Public Sector accounting.pptx
The document discusses the key principles of government accounting, including the basis of accounting (cash vs accrual basis). It provides examples of how transactions are recorded under each method. The cash basis recognizes revenue/expenses when cash is received/paid, while the accrual basis recognizes them when earned/incurred regardless of cash flow. The document also outlines the major accounting principles such as economic entity, going concern, matching, monetary unit, cost, revenue recognition, time period, conservatism, consistency, full disclosure, reliability, and materiality. It explains what each principle means and how it impacts financial reporting.
Gaap (generally accepted accounting principles)
The document discusses GAAP (Generally Accepted Accounting Principles). [1] GAAP are the common set of accounting standards, procedures and rules that govern financial accounting practices. [2] They provide guidelines for proper revenue recognition, balance sheet classifications, and share measurements to provide a fair representation of a company's financial status. [3] GAAP principles are divided into accounting concepts like the money measurement concept and dual aspect concept, and accounting conventions like full disclosure and materiality.
67156bos54090-cp1u2.pdf
This document discusses accounting concepts, principles, and conventions. It begins by outlining the learning outcomes of understanding basic accounting concepts, principles, and conventions. It then provides an overview of key topics like the entity concept, money measurement concept, periodicity concept, and others. The document emphasizes that concepts, principles, and conventions provide uniformity and structure for accounting. It stresses that financial statements should be prepared consistently according to generally accepted accounting principles.
(MBA SEM 1) SEM 1 Accounting Principles.pptx
Accounting principles provide guidelines for sound accounting practices and procedures. They aim to ensure uniformity and easy understanding of financial information.
There are two main categories of accounting principles: concepts and conventions. Concepts are basic assumptions used as a foundation for recording transactions, while conventions are customs that guide financial statement preparation.
Key concepts include business entity, money measurement, cost, going concern, dual aspect, realization, accrual, accounting period, and matching. Important conventions are consistency, conservatism, full disclosure, and materiality. Consistency provides comparability over time, while conservatism plays it safe and avoids overstating values. Full disclosure and materiality aim to make financial statements complete and understandable.
CA.pdf .Naresh Sehdev 8527018189/9971548875
Accounting concepts andprinciples all important
In financial accounting
Cost accounting
Management accounting
GAAR principles are differernt
Application in economics and accounts corporete accounting
Accounting concept and convention
This document discusses key accounting concepts and conventions. It defines 8 accounting concepts: business entity, money measurement, accounting period, accounting cost, going concern, dual aspect, realization, and matching. It also discusses 4 accounting conventions: consistency, materiality, conservatism, and full disclosure. The concepts and conventions establish standard principles and practices for preparing accurate financial statements and reports.
Gaap Constraints, Concepts, Assumptions, and Principles
Cannabis accounting requires a cursory knowledge of GAAP in order to maximize available production cost inclusion in cost of goods sold.
Acc0102. Accounting Concepts & Principles
GAAP and accounting standards form the theory base of accounting and describe rules for preparing financial statements. Accounting conventions emerge from commonly used accounting principles and practices, though they do not need universal application. Key accounting concepts include the entity, money measurement, periodicity, accrual, matching, going concern, cost, and realization concepts. Accounting principles should be based on assumptions, simple to understand, consistently followed, reflect future predictions, and be informative for users.
basic accounting concepts
this ppt is about the basic concepts of accounting which are to be understood clearly before you start preparing
Accounting GAAP rules
GAAP (Generally Accepted Accounting Principles) are the common set of accounting principles, standards and procedures that ensure financial statements are accurate, consistent, and transparent. Key principles include separate entity, money measurement, dual aspect, and going concern concepts. Adhering to GAAP allows for long-term decision making, financial analysis, record keeping, and comparison between companies. It also satisfies third parties like creditors and shareholders who rely on accurate financial reporting. Accounting conventions like prudence, consistency, full disclosure, and materiality help address transactions not fully covered by standards.
Accounting Concepts and Principles
Accounting concepts and principles provide a framework for financial reporting and ensure users are not misled. Some key concepts are:
- Going concern assumes the business will continue operating indefinitely.
- Entity treats the business and its owners separately.
- Duality means every transaction has two aspects recorded.
- Realization recognizes revenue when goods/services are delivered.
- Matching recognizes revenue and expenses in the periods to which they relate.
Similar to Revenue Recognition Principle | Accounting (20)
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
1.2. ACCOUNTING ASSUMPTIONS, PRINCIPLES AND CONCEPTS.pptx
1.2. ACCOUNTING ASSUMPTIONS, PRINCIPLES AND CONCEPTS.pptx
2. concepts and conventions of accounting mba 1st tri semester
2. concepts and conventions of accounting mba 1st tri semester
Gaap Constraints, Concepts, Assumptions, and Principles
Gaap Constraints, Concepts, Assumptions, and Principles
More from Transweb Global Inc
Resultant of Coplanar Parallel Forces | Mechanical Engineering
If two or more than two forces are acting on a single plane then the forces are known as System of Coplanar Forces and if they are acting on different planes then the forces are called as Non-Coplanar Forces. Copy the link given below and paste it in new browser window to get more information on Resultant of Coplanar Parallel Forces:-
http://www.transtutors.com/homework-help/mechanical-engineering/force-systems-and-analysis/resultant-of-coplanar-parallel-forces.aspx
The Centroidal Axis | Mechanical Engineering
The force of attraction exerted by the earth on a solid body is known as Gravitational Force. It acts in a vertically downward direction and is known as weight of the body. Thus, the weight of the body is assumed to act at a point which is known as Centre of Gravity of a body. Copy the link given below and paste it in new browser window to get more information on The Centroidal Axis:-
http://www.transtutors.com/homework-help/mechanical-engineering/bending-stress/moment-of-inertia-about-the-centroidal-axis1.aspx
System Of Coplanar Forces | Mechanical Engineering
A force is a physical quantity that tends to change the behavior of a solid body when applied upon. This change in behavior may be change in shape of the body or motion of the body in the direction of its action. The force is a vector quantity since it has magnitude and direction. Copy the link given below and paste it in new browser window to get more information on System Of Coplanar Forces:-
http://www.transtutors.com/homework-help/mechanical-engineering/force-systems-and-analysis/system-of-coplanar-forces.aspx
Resultant of Two Unlike and Unequal Parallel Forces | Mechanical Engineering
A force is an external agent which changes or tends to change the behavior of any solid body. It is a vector quantity since it is designated with magnitude and direction. The forces may be of tensile or compressive in nature. Copy the link given below and paste it in new browser window to get more information on Resultant of Two Unlike and Unequal Parallel Forces:-
http://www.transtutors.com/homework-help/mechanical-engineering/force-systems-and-analysis/resultant-of-two-unlike-and-unequal-parallel-forces.aspx
SFD Load Diagram Examples | Mechanical Engineering
Beam is a structural member whose lateral dimensions are much smaller than the longitudinal dimension and used to carry loads perpendicular to the longitudinal axis. The beams are generally used in buildings, bridges, trusses, etc., Copy the link given below and paste it in new browser window to get more information on SFD Load Diagram Examples:-
http://www.transtutors.com/homework-help/mechanical-engineering/bending-moment-and-shear-force/sfd-load-diagram-examples.aspx
Principle Of Transmissibility | Mechanical Engineering
A force is an external agent acting on another body. This force may moves or tends to move the body in the direction of its action. The force is a vector quantity since it is represented by its magnitude and direction. The force may be of pulling or pushing type. Copy the link given below and paste it in new browser window to get more information on Principle Of Transmissibility:-
http://www.transtutors.com/homework-help/mechanical-engineering/force-systems-and-analysis/principle-of-transmissibility.aspx
Law Of Polygon | Mechanical Engineering
If a body is subjected to many forces on its plane at a single point then they are called as Coplanar Concurrent Forces. The effect of the forces acting on the body is unknown. It is necessary to determine the resultant force of the coplanar forces to know this effect. Copy the link given below and paste it in new browser window to get more information on Law Of Polygon:-
http://www.transtutors.com/homework-help/mechanical-engineering/force-systems-and-analysis/law-of-polygon.aspx
Similarities between Leadership and Management | Management
In many aspects, leadership and management are almost known as Synonymous but both the words mean different. Similarities between Leadership and ManagementLeadership is an important and essential part of management. Without leadership, the meaning of management won’t be completed. Copy the link given below and paste it in new browser window to get more information on Similarities between Leadership and Management:-
http://www.transtutors.com/homework-help/industrial-management/leadership/similarities-between-leadership-and-management.aspx
Ranked Positional Weight Method | Management
The Ranked Positional Weight Method is a technique used for assembly line balancing that takes into account precedence relationships and task processing times. It involves calculating a Ranked Positional Weight for each work element based on duration and precedence, arranging them in descending order, and then assigning them to workstations to optimize time, machinery, labor and output. The example shows the steps of constructing a precedence diagram, calculating RPW values, ordering by RPW, and assigning elements to six workstations with the goal of minimizing idle time.
Business Intelligence And Business Analytics | Management
Business Intelligence is the initial basic step of Business Analytics. It refers to gathering raw and complex data, and converting it into systematic and logical information in a format that is usable by the end user. Copy the link given below and paste it in new browser window to get more information on Business Intelligence And Business Analytics:-
http://www.transtutors.com/homework-help/management/managing-information-technology/business-intelligence-analytics/
ABC Cost Hierarchy | Management
The document discusses the levels of an activity-based costing (ABC) system. It explains that under ABC, costs are first assigned to activities and then traced to products. There are four levels of costs: unit, batch, product, and facility. Unit costs are directly proportional to the number of units produced. Batch costs are proportional to the number of batches produced regardless of batch size. Product costs can be traced to a product line. Facility costs are incurred for the plant as a whole and cannot be traced to specific units or products. The document provides examples for each cost level.
Speed To Market | Management
In today’s competitive world the term Speed to Market plays an important role for everyone. So, Speed to Market means the pace of introducing any change, innovation, creativity, any market practice for the purpose of increasing the Promotion of the product as quickly as possible in the market. Copy the link given below and paste it in new browser window to get more information on Speed To Market:-
http://www.transtutors.com/homework-help/industrial-management/product-development/speed-to-market.aspx
Managerial Hubris | Finance
The document discusses the concept of managerial hubris, which refers to excessive pride or self-confidence held by senior managers that can lead to cognitive biases and poor decision making. Managerial hubris can result in empire building within an organization as managers seek to expand their power and influence. It is also related to mergers and acquisitions if acquiring company managers overestimate their ability to manage target companies. This can lead to winners' curse, where the winning bid exceeds the true value of the target. The hubris hypothesis suggests managerial hubris in acquisitions can result in bids over the intrinsic value and ultimately lower shareholder returns.
Conductance | Electrical Engineering
Conductance is an ability of a material to allow the passage of current or fluid or temperature through different materials. It is opposite of resistance through a path, higher the conductivity of material lower is its resistance. It is most commonly used with electrical circuits, though it is also used in fluid and thermals. Copy the link given below and paste it in new browser window to get more information on Conductance:-
http://www.transtutors.com/homework-help/electrical-engineering/conductance.aspx
Advantages and Disadvantages of Digital Electronics | Electrical Engineering
Digital Electronics circuits are those which operate with digital signals. These are discrete signals which are sampled from analog signal. Digital circuits use binary notation for transmission of signal. Copy the link given below and paste it in new browser window to get more information on Advantages and Disadvantages of Digital Electronics:-
http://www.transtutors.com/homework-help/electrical-engineering/digital-electronics/advantages-disadvantages/
Stabilization Of Operating Point | Electrical Engineering
This document discusses the stabilization of operating point in BJTs. It defines the load line and operating point, and explains that the operating point depends on factors like current gain, temperature, and supply voltage variations. An increase in current gain or temperature will shift the operating point towards saturation. It also describes different bias circuit types - fixed bias, collector base bias, fixed bias with emitter resistance, and voltage divider bias - and provides their basic equations.
Offer Curves | Economics
Curves are of different types and for different purposes. Some of the curves are utility curve, margin curves, demand and supply curve, offer curves, etc. International trade is based on international specialization. Copy the link given below and paste it in new browser window to get more information on Offer Curves:-
http://www.transtutors.com/homework-help/international-economics/analytical-tools/offer-curves.aspx
Fixed Exchange Rate | Economics
Currency is any form of money in general circulation in a country. Foreign exchange is money denominated in the currency of another country or a group of countries. Simply, an exchange rate is defined as the rate at which the market converts one currency into another. Copy the link given below and paste it in new browser window to get more information on Fixed Exchange Rate:-
http://www.transtutors.com/homework-help/international-economics/economic-policy-in-open-economy/fixed-exchange-rate/
Computer Architecture | Computer Science
Computer Architecture is the set of pre-defined rules and methods that describes the functionality of computer system. In other words, a computer consists of both hardware and software and using some rules and methods for the interaction of both hardware and software of a computer is known as computer architecture. Copy the link given below and paste it in new browser window to get more information on Computer Architecture:-
http://www.transtutors.com/homework-help/computer-science/computer-architecture/
Compilers Computer Program | Computer Science
One of the great advantages of high-level programming languages such as c, c++, and java is that they are machine independent. Programs written in the high-level languages can run on any machine. This is possible because of the compiler. Copy the link given below and paste it in new browser window to get more information on Compilers computer program:-
http://www.transtutors.com/homework-help/computer-science/compilers-computer-program.aspx
More from Transweb Global Inc (20)
Resultant of Coplanar Parallel Forces | Mechanical Engineering
Resultant of Coplanar Parallel Forces | Mechanical Engineering
System Of Coplanar Forces | Mechanical Engineering
System Of Coplanar Forces | Mechanical Engineering
Resultant of Two Unlike and Unequal Parallel Forces | Mechanical Engineering
Resultant of Two Unlike and Unequal Parallel Forces | Mechanical Engineering
SFD Load Diagram Examples | Mechanical Engineering
SFD Load Diagram Examples | Mechanical Engineering
Principle Of Transmissibility | Mechanical Engineering
Principle Of Transmissibility | Mechanical Engineering
Similarities between Leadership and Management | Management
Similarities between Leadership and Management | Management
Business Intelligence And Business Analytics | Management
Business Intelligence And Business Analytics | Management
Advantages and Disadvantages of Digital Electronics | Electrical Engineering
Advantages and Disadvantages of Digital Electronics | Electrical Engineering
Stabilization Of Operating Point | Electrical Engineering
Stabilization Of Operating Point | Electrical Engineering
Recently uploaded
BBR 2024 Summer Sessions Interview Training
Qualitative research interview training by Professor Katrina Pritchard and Dr Helen Williams
Advanced Java[Extra Concepts, Not Difficult].docx
This is part 2 of my Java Learning Journey. This contains Hashing, ArrayList, LinkedList, Date and Time Classes, Calendar Class and more.
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective UpskillingExcellence Foundation for South Sudan
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.Traditional Musical Instruments of Arunachal Pradesh and Uttar Pradesh - RAYH...
Traditional Musical Instruments of Arunachal Pradesh and Uttar Pradesh
How to Make a Field Mandatory in Odoo 17
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
clinical examination of hip joint (1).pdf
described clinical examination all orthopeadic conditions .
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Walmart Business+ and Spark Good for Nonprofits.pdf
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47
Event Link:- https://meetups.mulesoft.com/events/details/mulesoft-mysore-presents-mule-event-processing-models/
Agenda
● What is event processing in MuleSoft?
● Types of event processing models in Mule 4
● Distinction between the reactive, parallel, blocking & non-blocking processing
For Upcoming Meetups Join Mysore Meetup Group - https://meetups.mulesoft.com/mysore/YouTube:- youtube.com/@mulesoftmysore
Mysore WhatsApp group:- https://chat.whatsapp.com/EhqtHtCC75vCAX7gaO842N
Speaker:-
Shivani Yasaswi - https://www.linkedin.com/in/shivaniyasaswi/
Organizers:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Giridhar Meka - https://www.linkedin.com/in/giridharmeka
Priya Shaw - https://www.linkedin.com/in/priya-shaw
The History of Stoke Newington Street Names
Presented at the Stoke Newington Literary Festival on 9th June 2024
www.StokeNewingtonHistory.com
Hindi varnamala | hindi alphabet PPT.pdf
हिंदी वर्णमाला पीपीटी, hindi alphabet PPT presentation, hindi varnamala PPT, Hindi Varnamala pdf, हिंदी स्वर, हिंदी व्यंजन, sikhiye hindi varnmala, dr. mulla adam ali, hindi language and literature, hindi alphabet with drawing, hindi alphabet pdf, hindi varnamala for childrens, hindi language, hindi varnamala practice for kids, https://www.drmullaadamali.com
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...Nguyen Thanh Tu Collection
https://app.box.com/s/tacvl9ekroe9hqupdnjruiypvm9rdanePengantar Penggunaan Flutter - Dart programming language1.pptx
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Recently uploaded (20)
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Your Skill Boost Masterclass: Strategies for Effective Upskilling
Traditional Musical Instruments of Arunachal Pradesh and Uttar Pradesh - RAYH...
Traditional Musical Instruments of Arunachal Pradesh and Uttar Pradesh - RAYH...
B. Ed Syllabus for babasaheb ambedkar education university.pdf
B. Ed Syllabus for babasaheb ambedkar education university.pdf
Walmart Business+ and Spark Good for Nonprofits.pdf
Walmart Business+ and Spark Good for Nonprofits.pdf
Liberal Approach to the Study of Indian Politics.pdf
Liberal Approach to the Study of Indian Politics.pdf
Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47
IGCSE Biology Chapter 14- Reproduction in Plants.pdf
IGCSE Biology Chapter 14- Reproduction in Plants.pdf
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
BÀI TẬP BỔ TRỢ TIẾNG ANH LỚP 9 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2024-2025 - ...
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Pengantar Penggunaan Flutter - Dart programming language1.pptx
Revenue Recognition Principle | Accounting
- 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 more detailed information on this topic, please type the link given below or copy it from the description of this PPT and open it in a new browser window. Hey Friend, www.transtutors.com/homework-help/accounting/basic-principles-revenue-recognition/