1. Accounting Principles
The accounting principles are the basic guidelines that govern the field of accounting. These principles...
2. Qualitative Characteristics of Useful Financial Information
The qualities that make financial information useful to users are known as its qualitative attributes....
3. Accrual Concept
The accrual principle in accounting states that revenue and costs should be reported when they...
4. Going Concern Concept
An accounting theory known as the “going concern concept” believes that a company will continue...
5. Business Entity Concept
The accounting theory known as the “business entity concept” mandates that enterprises be treated independently...
6. Monetary Unit Assumption
The monetary unit assumption is one of the most important assumptions in accounting. It states...
7. Fraudulent Financial Reporting
It is a kind of corporate fraudulent in which the perpetrator intentionally misleads investors, creditors,...
8. Time Period Principle
One of the most fundamental accounting principles is the time period principle. Businesses are required...
9. Revenue Recognition Principle
According to the revenue recognition principle, income must be recorded when it is generated rather...