What Do You Mean By Accounting Principle?

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What Do You Mean By Accounting Principle?

• Accounting is the business language used to
  convey financial information to all concerned
  parties. Accounting principles are codes of
  conduct that accountants follow consistently when
  documenting accounting information. They consist
  of various ideas frequently linked to accounting
  theory and practices. When alternatives exist,
  they act as a guide for choosing conventions or
  methods and analyzing current practices. So, if
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Accounting Concepts
There are various essential accounting concepts,
such as Cost concept Realization concept
Accounting period concepts Money measurements
concepts Separate entity concepts Matching
concepts Dual aspect concepts So, if you enhance
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ACCOUNTING CONVENTIONS
There are various essential accounting
conventions, such as Convention of consistency
Convention of materiality Convention of
conservatism.
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