What are the accounting concepts?

Question

Accepted Answer

Accounting concepts are fundamental principles and guidelines that govern the field of accounting.

Accounting concepts provide a framework for recording, analyzing, and reporting financial transactions.
Some common accounting concepts include the accrual concept, the going concern concept, and the matching concept.
The accrual concept states that transactions should be recorded when they occur, not when the cash is received or paid.
The going concern concept assumes that a business will continue to operate indefinitely.
The matching concept requires that expenses be recorded in the same accounting period as the revenues they generate.
Other important accounting concepts include the consistency concept, the materiality concept, and the prudence concept.

Accepted Answer

Accounting concepts  : businesses entity concepts 
Going concern concept 
Money measurement concept 
Cost concept 
According period concept 
Dual aspect concept 
Matching concept...etc

What are the accounting concepts?

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