Finance

Difference Between Accounting Concept and Accounting Convention (With Table)

Accounting has a central place to occupy whether it is a common home, government, or a business enterprise especially. Accounting ensures the prevention of fraud, illegal practices and traces the losses well. Accounting concepts and accounting conventions are two types of accounting principles based on which accounting happens.  Accounting Concept vs Accounting Convention The main …

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Difference Between Accounting and Auditing (With Table)

The accountants and auditors look after the firm’s financial accounts, maintain a track record of all the finances, and keep them updated. These economic declarations, which include the balance sheet, income statement, and statement of cash flows, are prepared by accountants. Aside from that, an accountant may be reliable for various other tasks, including bookkeeping, …

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