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Fundamental Accounting Principles Volume 1 16th Canadian Edition PDF Form

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welcome to contacts in this lesson we're going to be looking at accounting principles we're going to explain what they are and we are going to give an example for each of the principles that we'll be explaining so what are accounting principles accounting principles are the required rules and guidelines that companies are required to follow when producing its financial information so if everyone was to produce their information however they wanted to then it would be very difficult for the users of financial information to make decisions because they would not know how they came about finalizing this financial information but because accounting principles are the rules and guidelines that are followed that means that the financial information that is produced by a company can be relied on to make decisions financial information is of interest to various stakeholders of an entity this information is used to make decisions as such how the financial information is presented may influence

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