Chapter-3 DATE

PAGE No

Paiwiples
Meamig Atouncughies
fripes
re baso

base
faeal statemeult
Thg gidelns

Called GAAP (Ceuenally

Aceepteot Accoutig Painiple).

das oY adele aopld a

preposed as ole
settted ound
oun or
pra u ce.

-The Ameicau mstitlo ot eritel

Puse Aceountauta

Aeiug Painiples

Ma
les Aeeepteo

to
duelaped
eue
Relevan)
agut
and
Caiy udeitaug Clange
buitee Qppid
Stacdaid peesot
þoaues,ee.
 DATE
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Afcig Paincaples Vo
NAccount Aceountut
Con
Concep
AsumpBe
As pes Aceeuntug staudael
tlu CA
cluanlee cost Conct
Accbuuautt et India),thee
at ieo tdamela

Aceual
Conekw Consisleu
Coneept concept
Conep
tis dsned tar Afeg Aeceived na
har budnen pinptes
uil centinue heuaw consistet
to exia tos a
aueti,
ttt The. Tuey sthoudet PRUchulas pearod
not be.
awatiy ane elaged beeu nwiled
hecon the in
ehabe e cea
to

ud'Bs cordA
wntomotion ahet the
putoaet
ompaud to cates
It appies
aatee
 OATE
PAGE NQ

) Busines eurily concept y ccorog

eonpt thon it
sepaae aud dls tnet
edilos, maogrs a d
ottu sorols
busine aays corsicee as dstinct
Qud epaiale om t e busPnen le

s) measseet Conept guy

hose
tansaeTies awl eweut Deeonleel
uehic are
A eet
eaprene
may be ves Smpelau
o buslnes not Be eorleel
tne books t busness wnles

Aeeoun peiocl Conept z As a buinen

a.teudde
to e time nde8
do a lou
pentoc tle t e
can be ascetoune wheu
the
met
So, ascetaieut of npotit atew a don peil
ose.

bubines ivided ti ume- uau

 DATE
d PAGE No

feiod
ie |st mae

)Cost Concept or tiston cal Cos Concept

2) estinato ia wsef e.
3) DiPole t noA yeos.
Aceordng to ttus coupts
accouinle the tie at weiel t
twag
acquied.
hs cost at sser beeomes basia
subseauent
Aice,the acghita cost elater to
the past, it i Katued to as iatai
Cost

8 Duad Aspect Coniept ’ lt stais hat

busines
Aansaction es cecorld
dlua asett lt meA eyey addiau
t deast t o Qccot Me Qcett
olebted he e e t m t b be
Crudited 4
The
tansaeious baed ttis
Double uty Bytteu
 SellCuuten
DATE
PArSE Na

Kevenee Recogtiow ( Realsaton)eonapts

Kewee mea
added o he pest
beesinesio peraibus
Relewe ks eate b sade ot gooda
tz et
Concept of eue Aeeogno detenni
detenine
tthe time paitic
ehic henee ie 6eaiec
moler.keceived. Sale. Paupuutt.
25July'2
lo chcurd lo hau toug'23
lo,oo)

e)Matolig Concept Aeeor

tis cu pt
bsinss
elicl eie applieasle Io Aeee
peaioal qhould be

Chais Tocas
lo,00
edi sale
t Sol d,
 DATE
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n)bject Concept me cone

ians a ons owe be
be tateord
abjectue n a n n e .
tree tom peaonal bias et
acnãt tho bTepcss ha ae)le
obl
lt cs posibte ony whe
on ott ea
tianiaon is ppoted by
dounnenta
ooies, ales
 DATE
PAGE N

Dis tunetiowblw Aceountwy Concep5

c Conveio
Covelee
Basis Ayeug Conceps
ae besed w
Dlegal
feiitio a~epted. LatoTS

Compay
Tut talloweal
Thet the

ae ecorled a o
ane antoined, balace s e e t
They ae hott
upean
te
Aecoalig t e bus.
a attons
9Rete e Theae There evail a
Pesou pesol biasnen .
udgement
.Pdal. adotg conveutiot
niormty
u the adepti
Convelong
adoplid
eutiapHs
 DATE
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Mouu Aceounug, Conveon

tescloure
Conyet
uateialty 'Convet
eonsevot
LPadence)
coneti
Alatns to hee eioho
the e e e showld be
diseloea
The Cenp>aes Aet natel
foatisw
the e . statimneuts ot a co
ontngut iahuitiis
ageáat etespnsei shold be
etce
stoek paoviug olepreeiatian
shad
iselaseel footote
Manket vae Sfvestmet sheld be
feotuote
 DATE
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)Conveitiowot Moteniality h
Conveten
exception to the convei

Aceo to tis conveuo, tus

e Aneigt'at
Ie
eteet or
see?eed
helewat t
need not to be dis loed?
gaed as waeia
ee Au ten hoed be Agared
to bellene tuat
s Aeas

Assoiatiw

3)Comveton ot Consevatin ( Paucleue)

Aecordug to this convel

Otialed losses shoulol be ecordled

books tt aceontt, but al
iw e
aticipatol oY nheelse qalns should
be iguoecl coig stvek is valued at
Fos exuple y Cost or heaisale

debls cheated
aticisotiew Of atual bad desta . ete
Conveuie Consevatw

diclae uneute lot

Oestdemet
ietltin,