Basic Accounting tools you should know #financialaccounting | Financial Accounting

📘 Accounting Principles (Simple & Clear) Accounting principles are the basic rules and guidelines that businesses follow to record and report financial information consistently and accurately. 🔑 Core Accounting Principles Business Entity Principle Business transactions are kept separate from the owner’s personal transactions. Money Measurement Principle Only transactions that can be measured in monetary terms are recorded. Going Concern Principle Assumes the business will continue operating in