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dual aspect concept of accounting
Dual Aspect Concept Duality Principle The dual aspect principle ensures that the accounts remain in balance even though money is flowing out of the company. One of the key strengths of the dual aspect principle is that it keeps the books balanced. Every transaction has two sides—an effect on at least dual aspect concept of […]
dual aspect concept of accounting 9
Accounting Concepts: Definition, Types etc Accounting is the business language, by which its financial position is communicated to audience. And to make sure that communication is done properly, accounting concepts are framed. Accounting concept refers to the basic assumptions which serve the basis of recording actual business transactions. Financial Position Reflection All those transactions that […]