Basic accounting concepts aa roundup may 30, 2007 what is accounting? accounting is a process by which financial activities are organized, recorded, analyzed and – a free powerpoint ppt presentation (displayed as a flash slide show) on powershowcom - id: 439e05-n2y1z. Download accounting concepts. Accounting basics important disclaimer important note: the text in this chapter is intended to clarify business- related concepts it is not intended nor can it replace formal legal advice before taking any actions relating to your business, always consult your accountant or a business law/tax attorney the need for accounting.
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From the free study guides and course manuals at wwwmy-accounting-tutorcom introductory accounting lecture first in a series accounting concepts and principles: accounting basics and. There are a number of conceptual issues that one must understand in order to develop a firm foundation of how accounting works. these basic accounting concepts are as follows: accruals concept . revenue is recognized when earned, and expenses are recognized when assets are consumed.. Accounting, like bankers, financial institutions, regulatory authorities, government, investors, etc. want the accounting information to be consistent so as to facilitate comparison. therefore, financial accounting is based on certain concepts and conventions which include separate.
