Financial Accounting – Assumptions GAAP- Tutorial 8 of 10


This 8th tutorial video on financial accountingexplain the assumptions of GAAP. Videos 7, 8 9 and 10 together cover details of financial accouting generally accepted Accounting Principles or GAAP. General rules and concepts govern the field of accounting and are referred to as the basic accounting principles and guidelines. They assumptions are the Economic entity, monetary unit, time period and going concern. Assumptions create scientific foundation for objective measurements in accounting. Videos 7, 8 9 and 10 together cover details of financial accouting generally accepted Accounting Principles or GAAP.

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