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Accounting Standards are Rules and Regulation of Financial Accounting set by ICAI (Institute of Chartered Accountant of India) which Cover the Treatment, Recognition, Measurement, Disclosure etc. It include the Objective, Benefits and Limitation of AS (Accounting Standard) Total 32 Accounting Standards are issued by ICAI.
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Here the Backbone of Accounting has been discussed. The Generally Accepted Accounting Principles which are generally followed round the globe which includes few Fundamental Accounting Assumptions (which are presumed to be followed by every Accountant). The Basis of Accounting & the Accounting Concepts has been explained elaborately. Some Accounting policies & Estimates are discussed
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The laws/framework behind the Accounting that explains the Procedure of Accounting in different scenarios, that brings the Uniformity in Accounting i.e Accounting Standards have been discussed. The objectives, benefits & limitations of Accounting standards have also been discussed
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ACCOUNTING 101 CHAPTER ONE: Asset, Liability, Owner s Equity,Revenue, and Expense Accounts The Fundamental Accounting Equation Assets=Liabilities+Owner s Equity ...
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This topic will provide you the Basic meaning of accounting. The Definitions of Accounting, Transactions & Events has been discussed. The Accounting process/cycle has been explained elaborately. The accounting users, Characteristics of Accounting, its limitations & its sub fields have been discussed.
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Similar to other disciplines, you must first refresh your memory on accounting fundamentals. Referring to your study materials, books, and manuals is the best option. Otherwise, you can just acknowledge joint venture accounts, consignment accounts, costs, payrolls, and balance sheets, among other things, as these basic concepts will help you a lot in accounting assignment writing.
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