Financial Accounting Interview Question:

Explain accounting concepts?

Submitted by: Administrator

Accounting concepts are those basis assumptions upon which basic process of accounting is based. Following are the basic accounting concepts:

1) Business Entity Concept

2) Dual Aspect Concept

3) Going Concern Concept

4) Accounting Period

5) Concept Cost Concept

6) Money Measurement Concept

7) Matching Concept
Submitted by: Administrator