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ACCOUNTING CONCEPTS

Dr.A.SUJATHA�Assistant Professor�PG& Research Department of Commerce�C.P.A College�Bodinayakanur�2023-2024�

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MEANING

Accounting is the language of business.

  • Business firms communicate their affairs and financial position to the outsiders through the medium of Accounting.

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ACCOUNTING CONCEPTS

  • 1. MONEY MEASUREMENT CONCEPT
  • 2. BUSINESS ENTITY COCEPT
  • 3. GOING CONCERN CONCEPT
  • 4. COST CONCEPT

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  • 5. DUAL ASPECT CONCEPT
  • 6. ACCOUNTING PERIOD CONCEPT
  • 7. MATCHING CONCEPT
  • 8. REALISATION CONCEPT
  • 9. OBJECTIVE CONCEPT
  • 10. ACCURAL CONCEPT