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Accounting Concepts and Standards


Accounting Principles and Concepts

In order to maintain some degree of consistency and uniformity in the preparation and maintenance of accounts, a number of principles and rules have emerged. These standards are often referred to as concepts or conventions. Together, they represent the founding framework that allows for the preparation and management of accurate financial records. Standardised accounting principles and concepts are of even greater importance in an era of globalization. Businesses may struggle to work with those from overseas if there are differences in accountancy procedures and protocols. Understanding all key accounting concepts and standards is necessary to begin working as a qualified accountant.

This tutorial introduces a variety of key accounting concepts and standards, along with accounting concepts’ meaning and significance from a modern business perspective. The overall accountancy framework is introduced and explored, along with a brief look at ongoing efforts to bring in wider standardization. Discover why it is that businesses worldwide have come to be reliant on a specific set of accounting standards.



After the completion of this course learners will be able to:

  • Understand basic accounting principles.
  • Describe the bases of accounting.
  • Describe the accounting terminology and equation.

Programme Content


  • Accounting Framework
  • Different Accounting Concepts
  • Accounting Standards
  • Changing Nature of Generally Accepted Accounting Principles (GAAP)
  • Different Attempts towards Standardisation

Target Audience

  • New or recent recruits to banking and financial organizations
  • Operations and support staff
  • Finance and accounting staff
  • Dealers and Traders


No prior knowledge is required to take this unit.


  • Participants:8 - 400
  • Duration: 2 - 3 hours
  • Participation:Only collaborative

Key Benefits

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Course at QLS
Study Method Online
Course Duration 10 Hours
Start Date on going
Awarding Body
Full Fee:    £ 120

Discount:    £ 96

Pay Today:    £ 24

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