Fundamentals of Accounting And Bookkeeping > Fundamental Accounting Principle

Fundamental Principles of Accounting

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Accounting principles serve as a guideline for accountants' theories and methods when performing accounting systems. Accounting principles ensure that businesses adhere to a set of guidelines for recording, recording, and presenting economic occurrences.

The principle of time. This is the idea that a company should publish its operational outcomes over a set period of time. This is perhaps the most self-evident of all accounting concepts, yet it is meant to produce a standard set of comparable periods for trend research.

Full disclosure principle in Accounting is a phrase that refers to the requirement for all public companies to disclose material information, underlying facts and data, and the data's assumptions. This can be done through various means such as the release of quarterly financial reports or a press release.

This topic is related to the accounting practice of revenue recognition. It is the process in which a company recognizes revenue when goods or services are transferred to customers and expenses are incurred. This principle can be applied to many different industries and vary depending on each company's unique situation.

When all four of the classic revenue recognition requirements are met, revenue is recognised: (1) the price can be set, (2) collection is likely, (3) compelling proof of an arrangement exists, and (4) delivery has occurred.

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Course Content

  1. Introduction to Fundametals of Accounting and Bookkeeping
    5m 51s

  1. Introduction to Accounting
    17m 57s
  2. Various Accounting Concepts
    11m 34s
  3. Various Terminologies in Accounting
    11m 45s
  4. Assignment : Basic Accounting
    1m 1s
  5. Assignment : Basic Accounting
    1m 17s

  1. Financial Transactions in Accounting
    9m 58s
  2. What are Books of Account
    11m 54s
  3. Assignment : Starting Point of Accounting
    1m

  1. Fundamental Principles of Accounting
    5m 45s
  2. Accounting Assumptions
    14m 30s
  3. Ledger & Accounting Methods
    16m
  4. Assignment : Fundamental Accounting Principle
    39s
  5. Assignment : Fundamental Accounting Principles
    42s

  1. Steps of Bookkeeping Process Part-1
    12m 45s
  2. Steps of Bookkeeping Process Part-2
    17m 7s
  3. Assignment : Steps of Bookkeeping Process
    39s

  1. Importance of Bookkeeping Process
    15m 39s
  2. What are Fixed Assets
    12m 16s
  3. Assignment : Importance of Bookkeeping
    48s
  4. Assignment : Importance of Bookkeeping
    45s

  1. What is Bank Reconciliation
    16m 1s
  2. Example of Bank Reconciliation Statement (BRS)
    13m 59s
  3. Assignment : Bank Reconciliation
    1m 7s

  1. Journal Entry in Accounting
    17m 44s
  2. Cases where Journal Entry is required
    16m 19s
  3. Assignment : Journal Entry
    1m 44s

  1. Introduction to Payroll
    15m 6s
  2. Transactions with Payroll
    13m 45s
  3. Assignment : Payroll Management
    40s

  1. Financial Statements
    13m 6s
  2. Financial Statements with Example
    15m 57s
  3. Assignment : Financial Statements
    1m 7s

  1. Course Summary
    2m 8s

  1. Interview Question in Fundamentals Of Accounting And Bookkeeping
    4m 20s

  1. Career Guideline
    2m 9s
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