Which accounting convention takes into account all prospective losses but leaves all prospective Profits?

Asked by Last Modified  

Follow 1
Answer

Please enter your answer

I am Searching for new authors ??

Convention of Conservatism.
Comments

Related Questions

What is matching concept in acvount? 

Cost should match with revenue for that period
Harender

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

I have registered as a home tutor but i am not getting any messages.

PLEASE take premium membership of UrbanPro you will definitely received home tuition enquiry.
Netti surya prakash Rao
0 0
6
difference b/w cash & cash eqivalant..
Cash is basically the money that is available with us in liquid form.And cash eqivalent are those items which can be converted into liquid form as and when required like fixed deposit ,they can be converted...
Madhav

What do you mean by principal of conservatism in accountancy?

The conservatism concept is a concept in accounting which refers to the idea that expenses and liabilities should be recognised as soon as possible in a situation where there is uncertainty about the possible...
Akash

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

Ask a Question

Related Lessons

Price Earnings Ratio
S

Introduction To Accounting: Part 14: Accounting Period Concept
A while ago, we studied Financial Statements. The definition of Financial Statements is reproduced here: “Financial Statements” is a summary report that shows how a Business has used the...



For CBSE PUC Accountancy- How to Identify Revenue vs Capital Expenditures for a Business Organisation
Dear Students, Identification of Revenue and Capital natured expenditure is essential for us. It is the base for many of the chapters in your Accountancy Syllabus. Let us understand these terms with several...

Recommended Articles

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

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 >

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