Accounting Related Concept Map

Accounting Concepts
Accounting entity
Going concern
Accounting period
Money Measurement
owner & the business are not the same
owner's private expenses are treated as drawings
owner is treated as only as a creditor of the business
business will continue for an indefinite period of time
business will not dissolve in the near future
Accounting year may be calendar year/financial year
only record transactions which can be expressed in terms of money
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