JAIIB - AFB - MODULE - B- Basic Accountancy Procedures Unit - 7 : Basic Accountancy procedures At the recording stage: Business entity concept Money measurement concept Objective evidence concept Historical record concept Cost concept Dual aspect concept
At the reporting: Going Concern concept Accounting period concept Matching concept Conservatism concept Full disclosure concept Materiality concept Main conventions of Accounting Accounting of full disclosure Convention of Materiality Convention of Conservatism Convention of Consistency Two systems of keeping records Single entry system Double entry system