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Ammar Dawoodi
- Oct 17, 2021
- 2 min
Prudence Concept of Accounting
Prudence Concept of Accounting
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Ammar Dawoodi
- Nov 13, 2020
- 3 min
Historical cost concept
The historical cost concept (also known as cost principle of accounting) states that the assets and liabilities of a business should be
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Ammar Dawoodi
- Sep 9, 2020
- 3 min
Substance over form concept
The concept substance over form means that the transactions recorded in the financial statements must reflect their economic substance
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Ammar Dawoodi
- Jun 30, 2020
- 2 min
What is the Distinction Between Cash vs. Accrual?
One of the most essential decisions a proprietor will need to make concerning the set-up of a business is the kind of accounting...
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Ammar Dawoodi
- Jun 29, 2020
- 3 min
How to Get Familiar with the Concept of Depreciation
Depreciation refers to two very different but related concepts: 1. The decrease in value of assets (fair value depreciation) 2. The...
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