Accounting period concept

Accounting period concept is to set up financial statements by accountants,they believe that the life of the business can be divided into time periods. Using this concept, accountants must verified in which period to report the profits and everyday expenditure of the business. This is called the accounting period concept.

Accounting Concepts

Accounting Concepts Learning objectives: Explain important accounting principles. The term concepts includes those basic assumptions or conditions upon which accounting is based. The following are the important accounting concepts: Business Entity Concept Going Concern Concept Money Measurement Concept Cost Concept Duel Aspect Concept Accounting