Accounting Concepts
Akopọ
Every set of financial statements is built on a shared set of rules that accountants agree to follow, even when nobody is watching. These rules are not laws written by a government; they are conventions that make one business's accounts comparable with another's, and comparable with its own accounts from last year. Without them, 'profit' could mean whatever a business wanted it to mean.
In this lesson you will learn the ten accounting concepts that underpin bookkeeping and financial reporting: business entity, going concern, accruals, consistency, prudence, materiality, historic cost, realisation, duality and money measurement. For each one you will see a concrete example of it being applied, or of what goes wrong when it is ignored.
Awọn Afojusun
- Understand the significance of the following accounting concepts: consistency, prudence, accruals, materiality, money measurement and business entity
Akọ̀wé Ẹ̀kọ́
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Accounting Concepts. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- A sole trader takes goods from the business for personal use without paying for them. This must be recorded as drawings because of which concept? A) Going concern B) Business entity C) Realisation D) Materiality Answer: B
- Closing inventory cost 6,000 but has a net realisable value of 5,200. At which value should it appear in the financial statements, and under which concept? A) 6,000, historic cost B) 5,200, prudence C) 6,000, consistency D) 5,200, materiality Answer: B
- Which concept states that revenue is recognised when a sale is legally completed, not when cash is received? A) Accruals B) Realisation C) Duality D) Going concern Answer: B
- A business always depreciates its vehicles using the same method each year unless there is good reason to change. This reflects which concept? A) Prudence B) Materiality C) Consistency D) Historic cost Answer: C
- A business buys a non-current asset for 40,000 in cash. Recording both the increase in the asset and the decrease in cash reflects which concept? A) Duality B) Money measurement C) Materiality D) Realisation Answer: A
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa Accounting Concepts? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
Ṣe igbasilẹ ohun elo naa lori Google Playstore
Gbogbo ohun ti o nilo lati ṣe dara julọ ninu JAMB, WAEC ati NECO.
