Accounting principles 

Accounting principles are the rules and guidelines that companies and other bodies must follow when reporting financial data. These rules make it easier to examine financial data by standardizing the terms and methods that accountants must use.

Five Accounting Principles

  1. Revenue Recognition Principle.
  2. Cost Principle.
  3. Matching Principle.
  4. Objectivity Principle.
  5. Full Disclosure Principle.

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