Assets are recorded in books at the cost incurred for acquisition of such assets state the accounting concept
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The four fundamental concepts of accounting, which have achieved general recognition over the last two or three centuries and which are now enshrined in Statement of Standard Accounting Practices No. 2 (SSAP2) Disclosure of Accounting Policies, are: (1) the going concern concept, (2) the accruals concept,
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The four fundamental concepts of accounting, which have achieved general recognition over the last two or three centuries and which are now enshrined in Statement of Standard Accounting Practices No. 2 (SSAP2) Disclosure of Accounting Policies, are: (1) the going concern concept, (2) the accruals concept,
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