The five important principles of accounting, by our Melbourne small business accountants
No matter what type of business you are in, from providing coaching services to selling cameras, your business operates under the same principles of modern accounting. The principles became commonplace in the 1800’s and our Melbourne small business accountants believe it is important for all businesses to understand the following principles;
1. The Revenue Principle
2. The Expense Principle
3. The Matching Principle
4. The Cost Principle
5. The Objectivity Principle
For more information on the accounting principles, please contact our Melbourne small business accountants today.