Question

Briefly discuss the
accounting principles ​

Answer 1

Answer:

Accounting principles are the rules and guidelines that companies must follow when reporting financial data. The Financial Accounting Standards Board (FASB) issues a standardized set of accounting principles in the U.S. referred to as generally accepted accounting principles (GAAP). ... Accrual principle.Aug 2, 2020

Answer 2

Answer:

Accounting principles are the rules and guidelines that companies must follow when reporting financial data. The Financial Accounting Standards Board (FASB) issues a standardized set of accounting principles in the U.S. referred to as generally accepted accounting principles (GAAP).1 Some of the most fundamental accounting principles include the following:

Accrual principle

Conservatism principle

Consistency principle

Cost principle

Economic entity principle

Full disclosure principle

Going concern principle

Matching principle

Materiality principle

Monetary unit principle

Reliability principle

Revenue recognition principle

Time period principle