Economics 11th

Meaning of Accounting

Objectives of Accounting

Need for Accounting

Functions of Accounting

Advantages of Accounting

Limitations of Accounting

Types of Accounting Information

Users of Accounting information and their Needs

Basic Accounting Terms

Fundamental Accounting Assumptions: Going Concern, Consistency, and Accrual

Accounting Principles: Accounting Entity, Money Measurement, Accounting Period, Full Disclosure, Materiality, Prudence, Cost Concept, Matching Concept and Dual Aspect.

Process of Accounting

Bases of Accounting - Cash Basis and Accrual Basis

Accounting Standards and IFRS