Question

what is principles of accounts​

Answer 1

Answer:

The principal is a term that has several financial meanings. The most commonly used refers to the original sum of money borrowed in a loan or put into an investment. ... The principal can also refer to an individual party or parties, the owner of a private company or the chief participant in a transaction.

Answer 2

5 Principles of Accounting are;

Revenue Recognition Principle,

Historical Cost Principle,

Matching Principle,

Full Disclosure Principle, and.

Objectivity Principle

Principles of Accounting was often the title of the introductory course in accounting. It was also common for the textbook used in the course to be entitled Principles of Accounting.

Principles of accounting can also refer to the basic or fundamental accounting principles: cost principles, matching principles, full disclosure principles, materiality principles, going concern principles, economic entity principles, and so on. In this context, principles of accounting refers to the broad underlying concepts which guide accountants when preparing financial statements.

Principles of accounting can also mean generally accepted accounting principles (GAAP). When used in this context, principles of accounting will include both the underlying basic accounting principles and the official accounting pronouncements issued by the Financial Accounting Standards Board (FASB) and its predecessor organizations. The official pronouncements are detailed rules or standards for specific topics.

IF MY ANSWER IS NOT BAD THEN PLZ FOLLOW ME