What is meant by accounting principles and its features?
Answers
Answered by
2
Heya user ✌️✌️
Accounting is a systematic process of identifying ,measuring, recording, classifying summarising, interpreting and communicating financial information .
Objective OF Accounting ⤵️⤵️
⏺️ Maintaining accounting record .
⏺️ Determining profit or loss .
⏺️ Determine financial position .
Features Of Accounting ⤵️⤵️
⏺️ Financial information about business .
⏺️ Assistance to management .
⏺️ Facilitates sale of business .
Accounting is a systematic process of identifying ,measuring, recording, classifying summarising, interpreting and communicating financial information .
Objective OF Accounting ⤵️⤵️
⏺️ Maintaining accounting record .
⏺️ Determining profit or loss .
⏺️ Determine financial position .
Features Of Accounting ⤵️⤵️
⏺️ Financial information about business .
⏺️ Assistance to management .
⏺️ Facilitates sale of business .
Similar questions