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Accounting Concepts and Principles

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  • Study Notes
  • Discuss This Topic
    Stephen N.
    KE
    Stephen N.

    Accounting concepts are those basis assumptions upon which basic process of accounting is based

    Angela R.
    US
    Angela R.

    Define the nature of a report

    Meleofa U.
    TO
    Meleofa U.

    accounting reports is very important to be accurate and valid and reliable... so with the help of all these concepts and principles...accountants can be able to calculate all the necessary reports.

    Rose R.
    PG
    Rose R.

    Accounting concepts are qualities that users expect to be present in financial reports.

    Mira M.
    EG
    Mira M.

    Timeliness indicates that reports are only of value if available within a reasonable time period.

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