AccoUNTING CONCEPTS

AND

ONVENTIONS

S.ABIL SH ARTHIk.
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2 MB A
Accouhng Conterts and ConVmtiong
Hcaourrg
Genevally Accepted
Thse aolerted
also as

Pouina pl.esGAPR)
8 b ceountrg concepts
heYe o
Busineu enhby Conupt
LSepaiate Enthy conup
L Dual aspeut conLapt
Coirg tonen ontapt
Goirg
L Auurtygpniod contept
L Contept
Meaguourent
L Monay cost pminupla o cuouig
Hisbvi cost ucnuept
Ly
Rexeaue uognihon concept

Makchinq prcept
ol
-Sepanale ennhy Conuapt Tt stats hal
Businexeh
Concpt tra
annu
taatth
ho n a a
Pso called as Bepovatly
sepoxatdp
dhe
Lovd
T h a B u s i o k t r r a t e d i r d e p e n d t r t l y

aluoas
Jwwe hould

buwins aro
ts oiorers.
omdhs ooneY&.

Dua Aspu Conept qurg vuovdung

TuDvdirg tAl
tranachorn uquire
buieys
Jha evey douke entvy
bais
Statu
Statu acbunts.
Tnis8 0,
diloul all Auourg
alD Auouyte
ramauovks
ramauovks
n 2 by
eguYed
atuDunbin ohich 9 a statëments. n
n i a statements
aeliablL ranial
sodue
in ovda
Assets Liabilthg t+Equiy
 Going Concexn ConCept
T i n p l i drol buintss endshy woile ndinut
Uhe
ov
dk ute. ard Loi 0 net Lquldate
dts opevationtin opexchions daun d any
be Yed o disonhinus Bs
beoved
Rolon

Accounting Piod Conupt

oue shich busineu transations
dapne dtme 90re
9ame
statamants, and i
into nonial uts
Compa neguuts
auomolated

iaveyag 80 dhok Uhy con

headad by
sukive dtre peiods

Morey Menuvemen Concept

anly eovd an auointing trasaation t
A buxine 8hnula
it can be enred inomsmon
Hishmcal cost Con Lept t etada Jfalt
al
Pcusuhing". t cratoo
so ColOd asCart prinuiple 6Rould be prageantad
aro iabi iti o a buaiess
he anete dhui'yKutvvi cos
A a u t h g 7atds at

Pexonuo Reognithb Conupt ds ihtn

contepE, Tt qude us
Aso enoLDn as alisahion
stardonds.
evenu in auourtvy
do Tudnise

Matins, Concert
inwme
gtodemenEaauAue and pronts
While epairq dhe nYYd
h Jha guated erpaies
an medteR
genovchi Jhom
 A CUouring Convenfiong

TheTe e A uounnq Convenhi'ons

>,Convention Full diselosua
Convention Materialit
Convention Con&istenc
Convenhon Consuevvadiam

discloure
Cenvenhon oull al0 aulaðant and neceu ay vmachon
Tt statu Uhat stemets
pany'inan Lial
aCom
dor Jhe vrderstonding
in publu com pan ilungs
must be Jnduded

onvention of Mateviality nead to be

iteme oAmnall stgnihan TterablAs
Tt statu Jfat coVat rtatment.
It erabl
huoYetically eano
aive &hit evarts d tems h a t
8uh
Ses D pnoh all
icl
aulevant oy mutey

Cong istenu
Converhien kas dtudad o
one he Company
AaoYdirq do hie utthall consistently
dhan E A h a l lconistently
ausuntng
ollo a rhed mdhod dkabughoub ard dhore'tbe an
sama h e s Ahould be
Lbw dhe melhe dhun dher
auountny
chanaein dhe
Kourd amson Jhe dhrge

P.T.O
Convennon oConsevarh.m
ARso CAlled docrine of prudantadtis a poliy
aniipangutue Lose but no fuhere galn
8oluwtjons ha an
Tt statu Jhot ohen doostrg bu 2 ,

be Las Jikely toveYstate aMets ad inome

Jhat
SRould be 8dartd

hp

A
Reerences
https:// www.acouhn tools com

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