Category: Generally Accepted Accounting Principles

The financial statements are produced following the §   accepted accounting concepts or principles §   for its uniform understanding. They are known as ‘Generally Accepted Accounting Principles’ (GAAP) and Accounting Standards. In this chapter contain following topics 2.01  Meaning and Nature of Generally Accepted Accounting Principles 2.02  Accounting Concepts   2.02.01    Going Concern Concept  …