Accounting Principles
Previous Lesson: GAAP
Next Lesson: Final Accounts
Accounting has been described as the means of communicating business affairs. For accounting to be universal, it should be guided by certain principles which its preparers adopt in the preparation and presentation of financial statements. Certain ground rules were initially set for financial accounting, these rules arose out of conventions. Therefore, these are also called accounting conventions or concepts. We shall discuss here only the basic accounting concepts or conventions that are very vital to understand the process of accounting.
References
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.
Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.
Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.
Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.
Thank you admin…
Sir I like your website, easy way of solving complex problems of accounting and finance. Thanks alot !!!
I have read some good stuff here. Definitely value bookmarking for revisiting.
I wonder how so much attempt you put to create one of these wonderful informative site.