What is meant by Accounting Conventions?

Asked by Last Modified  

1 Answer

Learn Accountancy +1 Class XI-XII Tuition (PUC)

Follow 1
Answer

Please enter your answer

Priyanka Shanmugam

I am Searching for new authors ??

An accounting convention consists of the guidelines that arise from the practical application of accounting principles.
Comments
Dislike Bookmark

Related Questions

Define Matrix.
Collection of numbers arranged in rows and columns.
Deepti
What are the fixed assets? Give example.
as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course...
Vishal
0 0
5

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off. 
Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..
Suneha Sharma
1 0
7

What will be the effect of change in income on giffin goods and normal goods ? 
Giffen goods are a special kind of inferior products in which demand increases when price increases. But in the case of income changes, there's an inverse relationship between market and income. With an...
Suneha Sharma
0 2
7

How to become a tutor in urbanpro? 

 
TO BECOME A TUTOR IN URBON PRO YOU HAVE DOWNLOAD THE URBAN PRO TUTOR APP FROM PAY STORE . SIGN IN WITH DETAILS . CREATE A PROFILE WHICH WILL ACT AS . ADD VERFICATION DOCUMENTS AND ALL NECESARY DETAILS . TO CONTINOU TUTOR HAVE TO LOGIN TO THE PORTAL
Kiruthiga

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Recording Bills Receivable and Payable

Shashi Shankar

0 0
0
GST Goods and Service Tax Meaning and Type
The goods and services tax (GST) is a tax on goods and services sold domestically for consumption. The tax is included in the final price and paid by consumers at point of sale and passed to the government...

Subhash Chandra

1 0
0
Introduction To Accounting: Part 2: Book Keeping, Accounting And Accountancy
Book Keeping: Book Keeping is mainly concerned with record keeping or maintenance of books of accounts. The maintenance of books of accounts includes the following four activities: Identifying the...

Nishant Kumar

0 0
0
Basic accounts principles
Debit the receiver Credit the giver Debit what comes in Credit what goes out Debit all expenses and losses Credit all income and gains
H

Hema B.

1 0
0
Introduction To Accounting: Part 7: Accounting Principles
Just like we have Grammar in English Language, which is basically the rules of English, we have some rules for Accounting as well, known as Accounting Principles. Accounting Principles, Concepts and Conventions...

Nishant Kumar

0 0
0

Recommended Articles

How To Choose The Right School For Children?

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

6 Healthy Habits of School Children

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

The Rising Problems in Indian Government School

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

Find Class 11 Tuition near you
Class 11 Tuition in Delhi
Class 11 Tuition in Bangalore
Class 11 Tuition in Hyderabad
Class 11 Tuition in Kolkata
Class 11 Tuition in Mumbai
Class 11 Tuition in Chennai
Class 11 Tuition in Pune
Class 11 Tuition in Gurgaon
Class 11 Tuition in Noida
Class 11 Tuition in Ghaziabad

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you