Part-1 | Accounting Concepts and Conventions | by CA Pradeep Kalra

Accounting principles can be broadly classified into two categories: A. Accounting Concepts B. Accounting Conventions Accounting Concepts Accounting Conventions 1) Entity Concept 1) Disclosure 2) Dual Aspect Concept 2) Materiality 3) Going Concern Concept 3) Consistency 4) Money Measurement Concept 4) Conservatism 5) Cost Concept 5) Uniformity 6) Accounting Period Concept 7) Accrual Concept 8) Periodic Matching of Cost & Revenue Concept 9) Realisation Concept 10) Substance over Legal Form Entity Concept Dual Aspect Concept Going Concern Concept (Continuity of Activity) Money Measurement Concept Cost Concept (Objectivity Concept) Accounting Period Concept Accrual Concept Periodic Matching of Cost and Revenue Concept Revenue Recognition (Realisation Concept) Substance over Legal Form Concept Convention of Disclosure Convention of Materiality Convention of Consistency Convention of Conservatism Convention of uniformity Accounting concepts with examples Accounting Principles What are the 13 principles of accounting? What are the 14 concepts of accounting? Best Accounting Videos Basic accounting concepts videos fundamental accounting principles videos #materiality #goingconcern #businessentity #accountingconcepts #accountingconventions