Accounting policies

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Across
  1. 2. The principle that requires accountants to exercise caution when estimating profits and assets.
  2. 4. The principle that requires a business to use the same accounting methods each year.
  3. 5. The principle that focuses on information important enough to influence decisions.
  4. 8. Entity The principle that treats the business and its owner as separate entities.
  5. 9. Concern The principle that assumes a business will continue operating for the foreseeable future.
  6. 10. The principle that ensures accounting information is compared fairly by using the same methods and rules.
Down
  1. 1. The principle that recognises revenue when it is earned
  2. 3. Measurement The principle that records only transactions that can be measured in monetary terms.
  3. 6. Cost The principle that records assets at their original purchase price.
  4. 7. The principle stating that every transaction has two aspects.