what is basic accounting concepts
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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The accounting of a private company, a public entity, or an administration, for example, generally relies on the fondamental accounting équation : Assets = Liabilities + Equity, and on the double-entry bookkeeping principle, where each financial transaction involves a debit and a crédit. In this context, accounting relies on key rules such as the accrual ptinciple, the going concern ptinciple, and prudence to guarantee reliable and crédible financial statements.