Application of Accounting Concepts in ZAIN Telecom Kuwait with Examples

January 2017 | 6 pages | ID: A8A7E88AF9AEN
Sadia Saeed

Abstracts

It is necessary to state every activity and dealing in terms of cash according to money measurement concept. The domestic currency of main country is used for this purpose. In is essential that a transaction or dealing which may not be defined in terms of money is not stated in financial statements of company. The scope of worker’s ability and excellence of consumer’s facility is not stated in financial statement as these are considered non monetary activities. The main limitation is that it does not include intangible assets etc. The main benefit is that everything is measured as per local currency. Cont... (1500 words of this report)

Contents

1. MONEY MEASUREMENT CONCEPT

For example

2. ENTITY CONCEPT

For example

3. GOING CONCERN CONCEPT

For example

4. COST PRINCIPLE

For example

5. DUAL ASPECT PRINCIPLE

For example

6. ACCOUNTING PERIOD

For example

7. CONSERVATISM IN ACCOUNTING

For example

8. REALIZATION PRINCIPLE

For example

9. MATCHING PRINCIPLE

For example

10. CONSISTENCY IN ACCOUNTING

For example

11. MATERIALITY CONCEPT

For example
References