Accounting Principles

Jump to Last Post 1-4 of 4 discussions (6 posts)
  1. profile image56
    Cognition Houseposted 8 years ago

    It has already been stated in this blog that Accounting is the language of business through which economic information is communicate to all the parties concerned. In order to make this language easily understanding all over the world, it is necessary to frame or make certain uniform standards which are available universally.

    Accounting principles may be distinct as those regulations of exploit or conduct which are adopted by the accounts universally while accounting transactions. They are a body of doctrines commonly associated with the theory and procedures of accounting. They are serving as an explanation of current practices and as a guide for selection of convention or procedures where alternatives exist. These principles can be classified into two groups.

    1.    Accounting concepts
    2.    Accounting conventions

    Accounting Concepts:
    The term ‘concepts’ includes those basic assumptions or conditions on which the science of accounting is based. The following are the important accounting concepts:
    i.    Separate Entity Concept
    ii.    Going Concern Concept
    iii.    Money Measurement Concept
    iv.    Cost Concept
    v.    Dual Aspect Concept
    vi.    Accounting Period Concept
    vii.    Matching Concept
    viii.    Realisation Concept

    Accounting Conventions:
    The term ‘convention’ includes those customs or trading guide the accountant while communication the accounting information. The following are the important accounting conventions:
    i.    Convention of Conservatism
    ii.    Convention of full Disclosure
    iii.    Convention of Consistency
    iv.    Convention of Materiality

  2. goldenpath profile image69
    goldenpathposted 8 years ago

    Holy poopy!  Perhaps a clearer distinction need be made when formulating a new thread the difference between a thread and a hub.  Compilations like these with substance should be properly formatted into a hub.  Since this thread is many hours old I trust you've since corrected this and made a hub out of it.  Happy hubbing and forums - but not in the same breath. smile

  3. LeanMan profile image87
    LeanManposted 8 years ago


    Hardly a thread.... nothing to discuss other than the fact that you just proved that accounting is boring!!!!

  4. profile image0
    shreyasshrikantposted 3 years ago

    Nothing to discuss.

    1. FatFreddysCat profile image99
      FatFreddysCatposted 3 years agoin reply to this

      ....then why did you randomly bump a five year old (!!) forum thread??

      1. profile image0
        shreyasshrikantposted 3 years agoin reply to this

        I'm sorry sir.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)