The accounts of a business should reflect a true and fair view of its financial position. To achieve this, accountants apply a series of accounting concepts. There are four fundamental accounting concepts namely going concern, prudence, matching/accruals and consistency concepts.


REQUIRED: Discuss these four concepts by providing examples

Answer rating: 100% (QA)

Going Concern Concept According to this concept a company should continue to operate for the foresee... View the full answer