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Accounting concepts accounting principles, concepts and conventions accounting principles are guidelines & standards, which have been accepted by the accounting profession in preparation and presentation of accounts of the business. Furthermore, the principle-based accounting approach is set to have more reliance on professional judgements fasb believes that an approach focusing more clearly on the principles of accounting standards is necessary to improve the quality and transparency of us financial accounting and reporting (fasb, 2002, p 10). Principles of accounting ethics case byp13-7 in textbook are you looking for a similar paper or any other quality academic essay then look no further. Accounting principles and ethics accounting principles can be defined as general rules and concepts that govern the field of accounting in a broader sense, these general rules are referred to as basic accounting principles and guidelines.
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