Accounting Bookkeeping Presentation ppt Final
Description: We are the tax consulting and best Financial Services in Hyderabad with affordable price Contact Number; 8074716673, 040-40060025 E-mail: avconsultantshyd@gmail.com Website: www.avconsultantshyd.com Address: Office: 3-5-17, Indira Nagar, Behind D-Mart, Ramanthapur, Hyderabad – 500013, Telangana
Description: We are the tax consulting and best Financial Services in Hyderabad with affordable price
Contact Number; 8074716673, 040-40060025
E-mail: avconsultantshyd@gmail.com
Website: www.avconsultantshyd.com
Address: Office: 3-5-17, Indira Nagar, Behind D-Mart, Ramanthapur, Hyderabad – 500013, Telangana
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- income tax
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Basic Accounting Principles and
Concepts
1. Business Entity
A business is considered a separate entity from the owner(s) and
should be treated separately. Any personal transactions of its
owner should not be recorded in the business accounting
book unless the owner’s personal transaction involves adding
and/or withdrawing resources from the business.
2. Going Concern
It assumes that an entity will continue to operate indefinitely. In
this basis, generally, assets are recorded based on their original
cost and not on market value. Assets are assumed to be heldand
used for an indefinite period of time or during its estimated
useful life. And that assets are not intended to be sold
immediately or liquidated.
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