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accounting concepts , convention, principle
what are the differences between accounting concepts, accounting conventions and principles
Replies (1)
Actually there is no difference
but theoretically.
Accounting priniples/concept actually formed and accountin conventions emerge out of accounting practices(jo bn gye). They are actually the practices followed where there is no specific principles. Conventions may be changed by accounting bodies from time to time to improve quality of accounting information.
but theoretically.
Accounting priniples/concept actually formed and accountin conventions emerge out of accounting practices(jo bn gye). They are actually the practices followed where there is no specific principles. Conventions may be changed by accounting bodies from time to time to improve quality of accounting information.
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