This is a part of lecture presented by Dr. Sanjay Biyani, Director of Biyani Girls College. The video is about Accounting Convention of Conservatism. Conservatism is the policy of ‘playing safe’. It takes into consideration all prospective losses but leaves all prospective profits. This accounting principle is given recognition in A.S. — 1. Following are the examples of the application of the convention of conservatism:
(a) Making the provision for doubtful debts and discount on debtors in anticipation of actual bad debts and discount,
(b) Valuing the stock in trade at market price or cost price whichever is less.
MCA Fifth Semester Model Papers
Faculty: IT 2019 Sample Papers with Solutions Sr. No. Paper Name Question Paper Link Solution Link 1. Cloud Computing Click Here Click Here 2. Analysis & Design of Algorithm Click Here …
MCA Third Semester Model Papers
Faculty: IT 2019 Sample Papers with Solutions Sr. No. Paper Name Question Paper Link Solution Link 1. Java Technologies Click Here Click Here 2. Web Technologies Click Here Click Here 3. …
MCA First Semester Model Papers
Faculty: IT 2019 Sample Papers with Solutions Sr. No. Paper Name Question Paper Link Solution Link 1. Discrete Mathematics Click Here Click Here 2. Programming in C & C++ Click Here …
MSC (Biotechnology) Previous Year Model Papers
Faculty: Science 2019 Sample Papers with Solutions Sr. No. Paper Name Question Paper Link Solution Link 1 Immunology, Virology and Pathogenesis Click Here Click Here 2. Cell Biology Click Here Click …
MSC (Biotechnology) Final Year Model Papers
Faculty: Science 2019 Sample Papers with Solutions Sr. No. Paper Name Question Paper Link Solution Link 1 Plant Biotechnology Click Here Click Here 2. Genetic Engineering Click Here Click Here
More Stories
Author
