Notes
ACCOUNTING PRINCIPLES
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ACCOUNTING PRINCIPLES
GOING CONCERN PRINCIPLE
As per this principle the businessman takes assumption that business will run for a indefinite time.
ACCOUNTING PERIOD PRINCIPLES
It states that accounting should be done for a regular period of 12 months for making proper decisions and making policies
ACCOUNTING ENTITY OR BUSINESS ENTITY
Business and businessman are considered separate
Transitions of business are recorded, not of businessman
Capital is liability of business
Businessman is creditor
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- XI Accountancy Note on ACCOUNTING PRINCIPLES, created by Divyansh Jain on 21/06/2021.
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- Divyansh Jain
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