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Fundamental Accounting Principles(1st Edition)
Authors:
Mohammad Hosseini ,Ali Mohammadiounotikandi ,Somayeh Babaeitarkami
Cover Type:Hardcover
Condition:Used
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Book details
ISBN: B0CQVT5JTW, 979-8872383758
Book publisher: Independently published
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Book Summary: The Fundamental Accounting Principles (FAP) Serve As The Foundational Principles That Underpin Accounting Processes, Playing A Crucial Role In Ensuring The Accuracy Of Financial Records And The Preparation Of Financial Statements. These Principles Are Widely Acknowledged And Offer A Structured Approach For Firms And Organizations To Disclose Their Financial Information Regularly And Honestly. Here Is An Overview Of The Most Important Fundamental Accounting Principles:The Accrual Principle Is A Fundamental Concept In Accounting That States That Revenue And Expenses Should Be Recognized In The Financial Statements When They Are.According To This Approach, It Is Recommended To Record Financial Transactions At The Time They Take Place, Rather Than Now When Currency Is Received Or Paid. The Recognition Of Revenues And Expenses In The Accounting Period To Which They Pertain Guarantees A Higher Degree Of Accuracy In Depicting A Company's Financial Well-being.
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