The most important terms in accounting


The most important terms in accounting

Entity concept
Accrual concept
Going Business Concept
Conservatism concept
Realization concept
Matching concept
Materiality concept
Consistency concept
Double entry concept

Cost concept: The most important terms in accounting

The dictionary of the RAE defines accounting  as “System adopted to keep the account and reason in public and private offices.” Due to this somewhat boring definition, accountants in TV shows, movies, and books have been painted in a negative and lifeless way.
Many think that all accountants do is create invoices, determine tax incentives, or analyze financial documents, and for the vast majority of working professionals, this is a complete nightmare.
However, accountants are highly qualified individuals in high demand for their services. Depending on your workplace, your craft is varied and anything but boring.
During  higher accounting studies, aspiring accountants learn the basics of accounting to gain skills in their craft.

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