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Saad Sayed Saad Shalaby

  • 2018-11-05 08:56:29

Accounting Principles Accounting Principles are the principle, concept, basic, guidance, as well as rule that use to prepare the financial reporting of an entity. Most of accounting principles are set in the accounting standard and well as guidance. Even those the accounting standards are vary from one country to another, but the principles that set out in the standards are at the same fashion. For example, GAAP or IFRS are different in many areas but the principles that uses in those standards are very much the same. 1- Accrual Principle 2- Conservatism principle 3- Consistency principle 4- Cost Principle or Historical Cost Principle 5- Economic Entity Principle 6- Full Disclosure Principle 7- Going Concern Principle 8- Matching principle 9- Materiality principle 10- Monetary unit principle 11- Reliability principle 12- Revenue Recognition Principle 13- Time period principle

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