Accounting Concepts, Principles and Procedures

Ordinary annuity

Special annuity

Annuity due

Delayed perpetuity

The concept requires proper care when calculating revenue.

The concept stresses that revenues should only be recorded if there is reasonable certainty about their realization.

The concept describes the problems that may arise in the calculation of incomes and expenses.

The concept explains that the comparison of incomes and expenses for a particular period can give the period’s net result.

Full disclosure of all material facts that can affect the financial statement.

That profit should be realized.

Matching of incomes and expenses for a particular period.

The business to avoid being dissolved in the near future.