accountancy and Financial Management

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1. Accounting Principles:

1.1 Meaning:

1.2 Levels

2. Accounting Concepts:

2.1 Entity Concept:

2.2 Going Concern Concept:

2.3 Money Measurement Concept:

2.4 Historical Cost Concept:

2.5 Accrual Concept:

2.6 Concepts Of Accounting Period & Matching Of Costs With Revenue:

3. Accounting Conventions:

3.1 Convention Of Conservatism:

3.2 Convention Of Materiality:

3.3 Convention Of Consistancy:

4. Scope Of Accounting Principles:

5. Measurement Function Of Accounting:

6. Advantages Of Accounting Principles:

7. Limitations:

7.1 Limitations Of Accounting Principles:

7.2 Limitations Of Concepts And Conventions:

7.3 Limitations Of Accounting Policies:

7.4 Accounts Are Expert Estimates:

8. Exercises: