SlideShare ist ein Scribd-Unternehmen logo

Accounting Concepts & Conventions

•
•
D
dvietians
BusinessTechnologie
1 von 27
Downloaden Sie, um offline zu lesen
ACCOUNTING CONCEPTS AND CONVENTIONS BY-: PRIYASH 0129618 NIKHIL 0129626
ACNOWLEDGEMENT ,[object Object]
CONTENTS-: Accounting Concepts…………… Meaning……… Types………… Accounting Conventions………. Meaning……… Types…………. Difference B/w Accounting Concepts & Conventions…………………..
ACCOUNTING CONCEPTS -: In order to make the accounting language convey the same meaning to all people & to make it more meaningful, most of the accountants have agreed on a number of concepts which are usually followed for preparing the financial statements. These concepts provide a foundation for accounting process. No enterprise can prepare its financial statements without considering these concepts.
1) BUSINESS ENTITY CONCEPT ,[object Object],[object Object],[object Object],[object Object]
2) MONEY MEASUREMENT CONCEPT ,[object Object],[object Object]
3) GOING CONCERN CONCEPT ,[object Object],[object Object],[object Object]
4) ACCOUNTING PERIOD CONCEPT ,[object Object],[object Object]
[object Object],[object Object]
5) HISTORICAL COST CONCEPT ,[object Object],[object Object],[object Object]
JUSTIFICATION FOR HISTORICAL COST CONCEPT ,[object Object],[object Object],[object Object],[object Object]
DRAWBACKS OF HISTORICAL CONCEPT ,[object Object],[object Object]
6) DUAL ASPECT CONCEPT ,[object Object],[object Object],[object Object],[object Object]
7) REVENUE RECOGNITION/REALISATION CONCEPT ,[object Object],[object Object],[object Object],[object Object],[object Object]
8) MATCHING CONCEPT ,[object Object],[object Object]
Following points must be considered while matching costs with revenue-: ,[object Object],[object Object],[object Object],[object Object]
9) ACCRUAL CONCEPT ,[object Object],[object Object]
10) OBJECTIVITY CONCEPT ,[object Object]
11) TIMELINESS ,[object Object],[object Object]
12) COST BENEFIT PRINCIPLE ,[object Object]
ACCOUNTING CONVENTIONS ,[object Object]
1) CONVENTION OF FULL DICLOSURE ,[object Object],[object Object],[object Object]
2) CONVENTION OF CONSISTENCY ,[object Object],[object Object],[object Object]
3) CONVENTION OF CONSERVATISM ,[object Object],[object Object],[object Object]
4) CONVENTION OF MATERIALITY ,[object Object],[object Object],[object Object]
DIFFERENCE B/W CONCEPTS & CONVENTIONS Biasness in adoption No space for personal biasness in the adoption Biasness No uniform adoption Uniform adoption Uniformity Guidelines based upon customs or usage By law Established ACCOUNTING CONVENTIONS ACCOUNTING CONCEPTS BASIS
THE END

Empfohlen

Accounting concept and convention
Accounting concept and conventionAccounting concept and convention
Accounting concept and conventionpoojanmantri
 
Meaning and scope of accounting
Meaning and scope of accountingMeaning and scope of accounting
Meaning and scope of accountinggherryta
 
Accounting concepts and convention
Accounting concepts and conventionAccounting concepts and convention
Accounting concepts and conventionrahul kapoliya
 
Accounting concepts and conventions
Accounting concepts and conventionsAccounting concepts and conventions
Accounting concepts and conventionsSukirat Kaur
 
Accounting principles
Accounting principlesAccounting principles
Accounting principlespooja jain
 
Accounting concept
Accounting conceptAccounting concept
Accounting conceptPooja Adake
 
Classification of accounts || personal account || real account || nominal acc...
Classification of accounts || personal account || real account || nominal acc...Classification of accounts || personal account || real account || nominal acc...
Classification of accounts || personal account || real account || nominal acc...RAHUL DHAMIJA
 
accounting
accounting accounting
accounting christian
 

Empfohlen

Accounting concept and convention
Accounting concept and conventionAccounting concept and convention
Accounting concept and conventionpoojanmantri
 
Meaning and scope of accounting
Meaning and scope of accountingMeaning and scope of accounting
Meaning and scope of accountinggherryta
 
Accounting concepts and convention
Accounting concepts and conventionAccounting concepts and convention
Accounting concepts and conventionrahul kapoliya
 
Accounting concepts and conventions
Accounting concepts and conventionsAccounting concepts and conventions
Accounting concepts and conventionsSukirat Kaur
 
Accounting principles
Accounting principlesAccounting principles
Accounting principlespooja jain
 
Accounting concept
Accounting conceptAccounting concept
Accounting conceptPooja Adake
 
Classification of accounts || personal account || real account || nominal acc...
Classification of accounts || personal account || real account || nominal acc...Classification of accounts || personal account || real account || nominal acc...
Classification of accounts || personal account || real account || nominal acc...RAHUL DHAMIJA
 
accounting
accounting accounting
accounting christian
 
Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)Muhammad Sher
 
Indian Accounting standards
Indian Accounting standardsIndian Accounting standards
Indian Accounting standardssonicshare
 
Accounting standards
Accounting standards Accounting standards
Accounting standards Manah Chhabra
 
Accounting principles
Accounting principlesAccounting principles
Accounting principlesMahesh Chandra Sharma
 
Scope of Management Accounting
Scope of Management Accounting Scope of Management Accounting
Scope of Management Accounting Mohammad Abu Saleh
 
Difference between management and Financial accounting.
Difference between management and Financial accounting.Difference between management and Financial accounting.
Difference between management and Financial accounting.VadivelM9
 
Accounting concepts
Accounting conceptsAccounting concepts
Accounting conceptsSweetp999
 
Accounting ppt
Accounting pptAccounting ppt
Accounting pptNarasimha Simha
 
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...Ahmad Hassan
 
Management accounting
Management accountingManagement accounting
Management accountingYamini Kahaliya
 
Accounting meaning and objectives-ambily
Accounting meaning and objectives-ambilyAccounting meaning and objectives-ambily
Accounting meaning and objectives-ambilyAmbily Viruppel
 
cash flow and fund flow ppt
cash flow and fund flow ppt cash flow and fund flow ppt
cash flow and fund flow pptArhaam Ansari
 
Trial balance ppt
Trial balance pptTrial balance ppt
Trial balance pptharshika5
 
Ppt on accounting standards
Ppt on accounting standardsPpt on accounting standards
Ppt on accounting standardsKunal Kapadia
 
Objective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.comObjective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.comDr. Toran Lal Verma
 
Final accounts
Final accounts Final accounts
Final accounts Ankit Sand
 
Cost accounting
Cost accountingCost accounting
Cost accountingShilpi Panchal
 
Double entry system
Double entry systemDouble entry system
Double entry systemRaJesh Thakur
 
Accounting concepts and conventions
Accounting concepts and conventionsAccounting concepts and conventions
Accounting concepts and conventionsMehul Bansal
 
Accounting principle
Accounting principleAccounting principle
Accounting principleveena Madaan
 
Accountingconceptsconventions
AccountingconceptsconventionsAccountingconceptsconventions
Accountingconceptsconventionsgunjan_dhingra
 
Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02Mohan Khamkar
 

Weitere ähnliche Inhalte

Was ist angesagt?

Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)Muhammad Sher
 
Indian Accounting standards
Indian Accounting standardsIndian Accounting standards
Indian Accounting standardssonicshare
 
Accounting standards
Accounting standards Accounting standards
Accounting standards Manah Chhabra
 
Scope of Management Accounting
Scope of Management Accounting Scope of Management Accounting
Scope of Management Accounting Mohammad Abu Saleh
 
Difference between management and Financial accounting.
Difference between management and Financial accounting.Difference between management and Financial accounting.
Difference between management and Financial accounting.VadivelM9
 
Accounting concepts
Accounting conceptsAccounting concepts
Accounting conceptsSweetp999
 
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...Ahmad Hassan
 
Accounting meaning and objectives-ambily
Accounting meaning and objectives-ambilyAccounting meaning and objectives-ambily
Accounting meaning and objectives-ambilyAmbily Viruppel
 
cash flow and fund flow ppt
cash flow and fund flow ppt cash flow and fund flow ppt
cash flow and fund flow pptArhaam Ansari
 
Trial balance ppt
Trial balance pptTrial balance ppt
Trial balance pptharshika5
 
Ppt on accounting standards
Ppt on accounting standardsPpt on accounting standards
Ppt on accounting standardsKunal Kapadia
 
Objective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.comObjective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.comDr. Toran Lal Verma
 
Final accounts
Final accounts Final accounts
Final accounts Ankit Sand
 
Accounting concepts and conventions
Accounting concepts and conventionsAccounting concepts and conventions
Accounting concepts and conventionsMehul Bansal
 
Accounting principle
Accounting principleAccounting principle
Accounting principleveena Madaan
 

Was ist angesagt? (20)

Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)Gaap (generally accepted accounting principles)
Gaap (generally accepted accounting principles)
 
Indian Accounting standards
Indian Accounting standardsIndian Accounting standards
Indian Accounting standards
 
Accounting standards
Accounting standards Accounting standards
Accounting standards
 
Accounting principles
Accounting principlesAccounting principles
Accounting principles
 
Scope of Management Accounting
Scope of Management Accounting Scope of Management Accounting
Scope of Management Accounting
 
Difference between management and Financial accounting.
Difference between management and Financial accounting.Difference between management and Financial accounting.
Difference between management and Financial accounting.
 
Accounting concepts
Accounting conceptsAccounting concepts
Accounting concepts
 
Accounting ppt
Accounting pptAccounting ppt
Accounting ppt
 
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
| Generally Accepted Accounting Principles | Principles of Accounting | Accou...
 
Management accounting
Management accountingManagement accounting
Management accounting
 
Accounting meaning and objectives-ambily
Accounting meaning and objectives-ambilyAccounting meaning and objectives-ambily
Accounting meaning and objectives-ambily
 
cash flow and fund flow ppt
cash flow and fund flow ppt cash flow and fund flow ppt
cash flow and fund flow ppt
 
Trial balance ppt
Trial balance pptTrial balance ppt
Trial balance ppt
 
Ppt on accounting standards
Ppt on accounting standardsPpt on accounting standards
Ppt on accounting standards
 
Objective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.comObjective and Scope of financial management B.com, M.com
Objective and Scope of financial management B.com, M.com
 
Final accounts
Final accounts Final accounts
Final accounts
 
Cost accounting
Cost accountingCost accounting
Cost accounting
 
Double entry system
Double entry systemDouble entry system
Double entry system
 
Accounting concepts and conventions
Accounting concepts and conventionsAccounting concepts and conventions
Accounting concepts and conventions
 
Accounting principle
Accounting principleAccounting principle
Accounting principle
 

Ähnlich wie Accounting Concepts & Conventions

Accountingconceptsconventions
AccountingconceptsconventionsAccountingconceptsconventions
Accountingconceptsconventionsgunjan_dhingra
 
Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02Mohan Khamkar
 
accountingconceptsconventions-091002014324-phpapp02.ppt
accountingconceptsconventions-091002014324-phpapp02.pptaccountingconceptsconventions-091002014324-phpapp02.ppt
accountingconceptsconventions-091002014324-phpapp02.pptManjulagupta15
 
Accounting Concepts & Conventions
Accounting Concepts & ConventionsAccounting Concepts & Conventions
Accounting Concepts & ConventionsDevTech Finance
 
Accounting Fundamentals - Concepts and Convetions
Accounting Fundamentals - Concepts and ConvetionsAccounting Fundamentals - Concepts and Convetions
Accounting Fundamentals - Concepts and Convetionssivanandham20
 
Accounting concepts and conventions(mba)
Accounting concepts and conventions(mba)Accounting concepts and conventions(mba)
Accounting concepts and conventions(mba)tanvi goyal
 
Accounting Principles- Concepts & Conventions
Accounting Principles- Concepts & ConventionsAccounting Principles- Concepts & Conventions
Accounting Principles- Concepts & Conventionsseemamahajan11
 
accountingprinciples-170804072746.pdf
accountingprinciples-170804072746.pdfaccountingprinciples-170804072746.pdf
accountingprinciples-170804072746.pdfAnwarIndris
 
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptx
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptx
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptxjeannmontejo1
 
An introduction to accounting
An introduction to accountingAn introduction to accounting
An introduction to accountingSandhya Iyer
 
Acc princ
Acc princAcc princ
Acc princ07Deeps
 
10 accounting conceptsand conventions
10 accounting conceptsand conventions10 accounting conceptsand conventions
10 accounting conceptsand conventionsAKSHAY KASAMBE
 
Accounting Concepts and Conventions
Accounting Concepts and ConventionsAccounting Concepts and Conventions
Accounting Concepts and ConventionsL.Prakash Kannan
 
Accounting Concepts and Principles
Accounting Concepts and PrinciplesAccounting Concepts and Principles
Accounting Concepts and Principlesariftokymc
 
Accoutning concepts, principles and conventions
Accoutning concepts, principles and conventionsAccoutning concepts, principles and conventions
Accoutning concepts, principles and conventionsgherryta
 
Bba i ita u 1.3 accounting conventio ns
Bba i ita u 1.3 accounting conventio nsBba i ita u 1.3 accounting conventio ns
Bba i ita u 1.3 accounting conventio nsRai University
 

Ähnlich wie Accounting Concepts & Conventions (20)

Accountingconceptsconventions
AccountingconceptsconventionsAccountingconceptsconventions
Accountingconceptsconventions
 
Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02Accountingconceptsconventions 091002014324-phpapp02
Accountingconceptsconventions 091002014324-phpapp02
 
accountingconceptsconventions-091002014324-phpapp02.ppt
accountingconceptsconventions-091002014324-phpapp02.pptaccountingconceptsconventions-091002014324-phpapp02.ppt
accountingconceptsconventions-091002014324-phpapp02.ppt
 
3. gaap
3. gaap3. gaap
3. gaap
 
Accounting Concepts & Conventions
Accounting Concepts & ConventionsAccounting Concepts & Conventions
Accounting Concepts & Conventions
 
Accounting Fundamentals - Concepts and Convetions
Accounting Fundamentals - Concepts and ConvetionsAccounting Fundamentals - Concepts and Convetions
Accounting Fundamentals - Concepts and Convetions
 
Accounting concepts and conventions(mba)
Accounting concepts and conventions(mba)Accounting concepts and conventions(mba)
Accounting concepts and conventions(mba)
 
Basic accounting
Basic accountingBasic accounting
Basic accounting
 
Accounting Principles- Concepts & Conventions
Accounting Principles- Concepts & ConventionsAccounting Principles- Concepts & Conventions
Accounting Principles- Concepts & Conventions
 
accountingprinciples-170804072746.pdf
accountingprinciples-170804072746.pdfaccountingprinciples-170804072746.pdf
accountingprinciples-170804072746.pdf
 
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptx
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptx
ABM1_Concepts and Principles.pptxABM1_Concepts and Principles.pptx
 
Accountin 1.pptx
Accountin 1.pptxAccountin 1.pptx
Accountin 1.pptx
 
An introduction to accounting
An introduction to accountingAn introduction to accounting
An introduction to accounting
 
Acc princ
Acc princAcc princ
Acc princ
 
10 accounting conceptsand conventions
10 accounting conceptsand conventions10 accounting conceptsand conventions
10 accounting conceptsand conventions
 
Acc prin.ppt
Acc prin.pptAcc prin.ppt
Acc prin.ppt
 
Accounting Concepts and Conventions
Accounting Concepts and ConventionsAccounting Concepts and Conventions
Accounting Concepts and Conventions
 
Accounting Concepts and Principles
Accounting Concepts and PrinciplesAccounting Concepts and Principles
Accounting Concepts and Principles
 
Accoutning concepts, principles and conventions
Accoutning concepts, principles and conventionsAccoutning concepts, principles and conventions
Accoutning concepts, principles and conventions
 
Bba i ita u 1.3 accounting conventio ns
Bba i ita u 1.3 accounting conventio nsBba i ita u 1.3 accounting conventio ns
Bba i ita u 1.3 accounting conventio ns
 

Kürzlich hochgeladen

Roman Kyslyi: Використання та побудова LLM агентів (UA)
Roman Kyslyi: Використання та побудова LLM агентів (UA)Roman Kyslyi: Використання та побудова LLM агентів (UA)
Roman Kyslyi: Використання та побудова LLM агентів (UA)Lviv Startup Club
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsIndiaMART InterMESH Limited
 
Andrii Rodionov: What can go wrong in a distributed system – experience from ...
Andrii Rodionov: What can go wrong in a distributed system – experience from ...Andrii Rodionov: What can go wrong in a distributed system – experience from ...
Andrii Rodionov: What can go wrong in a distributed system – experience from ...Lviv Startup Club
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdfMintel Group
 
Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesDoe Paoro
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersPeter Horsten
 
How to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHow to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHelp Desk Migration
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Nihal Nishadul
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsKnowledgeSeed
 
Exploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityExploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityThe Spanish Group
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...Hector Del Castillo, CPM, CPMM
 
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh JiPsychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh Jiastral oracle
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfASGITConsulting
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
 
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Aggregage
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerAggregage
 
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...Operational Excellence Consulting
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverseInteroperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverseSiemens
 

Kürzlich hochgeladen (20)

Roman Kyslyi: Використання та побудова LLM агентів (UA)
Roman Kyslyi: Використання та побудова LLM агентів (UA)Roman Kyslyi: Використання та побудова LLM агентів (UA)
Roman Kyslyi: Використання та побудова LLM агентів (UA)
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan Dynamics
 
Andrii Rodionov: What can go wrong in a distributed system – experience from ...
Andrii Rodionov: What can go wrong in a distributed system – experience from ...Andrii Rodionov: What can go wrong in a distributed system – experience from ...
Andrii Rodionov: What can go wrong in a distributed system – experience from ...
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
 
Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic Experiences
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exporters
 
How to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHow to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your Business
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024
 
WAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdfWAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdf
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applications
 
Exploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityExploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your Vicinity
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
 
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh JiPsychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdf
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdf
 
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon Harmer
 
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverseInteroperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverse
 

Accounting Concepts & Conventions

  • 1. ACCOUNTING CONCEPTS AND CONVENTIONS BY-: PRIYASH 0129618 NIKHIL 0129626
  • 2.
  • 3. CONTENTS-: Accounting Concepts…………… Meaning……… Types………… Accounting Conventions………. Meaning……… Types…………. Difference B/w Accounting Concepts & Conventions…………………..
  • 4. ACCOUNTING CONCEPTS -: In order to make the accounting language convey the same meaning to all people & to make it more meaningful, most of the accountants have agreed on a number of concepts which are usually followed for preparing the financial statements. These concepts provide a foundation for accounting process. No enterprise can prepare its financial statements without considering these concepts.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26. DIFFERENCE B/W CONCEPTS & CONVENTIONS Biasness in adoption No space for personal biasness in the adoption Biasness No uniform adoption Uniform adoption Uniformity Guidelines based upon customs or usage By law Established ACCOUNTING CONVENTIONS ACCOUNTING CONCEPTS BASIS