Accounting Principles

 

 

Accounting Principles

Accounting principles are the common rules and guidelines that businesses must follow when reporting financial data/ information.

Some of the accounting concepts and principles are as follows:

  • Matching principle
  • The cost principle
  • Rules for recognizing Revenue
  • Industry-specific regulations
  • Full disclosure principle
  • Going concern
  • Accrual
  • Materiality
  • Consistency
  • Conservatism and others

 

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