Financial Accounting has its Limitations If one takes a deeper look into the different aspects of accounting, one will find that it is not free from limitations. Financial accounting gives room for alternative treatment. Basically, accountancy is based on the 'generally accepted principles', but......
The Importance of Accounting PrinciplesAccounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements.
Long ago, I was perplexed to discover that there was no "set" of acc......