Accounting concepts

A small number of fundamental concepts which underlie the completion of periodic financial accounts of businesses under generally accepted accounting practice.

The concepts include:

• accruals

• consistency

• disaggregation, and

• going concern.

See also

• Accounting
• Accounting bases
• Accruals concept
• Accounting practice
• Conceptual framework
• Consistency
• Disaggregation
• Going concern
• Prudence
• True and fair view
• UK GAAP