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Syllabus

Accounting Concepts and Conventions — Syllabus

NIOS · Class 10 · Accountancy

What Accounting Concepts and Conventions covers in NIOS Class 10 Accountancy: 4 topics, for the 2026-27 session.

77 questions32 flashcards5 concepts

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4 Topics · NIOS Class 10 Accountancy · 2026-27

Topics in Accounting Concepts and Conventions

1

Accounting Concepts

  • Accounting concepts are the basic assumptions, rules, and principles used for recording business transactions and preparing accounts.
  • The main accounting concepts are Business Entity Concept, Money Measurement Concept, Going Concern Concept, and Dual Aspect Concept.
  • Accounting concepts and conventions together are called Generally Accepted Accounting Principle (GAAP).
2

Business Entity Concept

  • This concept assumes that the business enterprise and its owner are two separate entities for accounting purposes.
  • Owner's investment in the business is recorded as a liability of the business to the owner.
  • Withdrawals of cash or goods by the owner for personal use are called Drawings, not business expense.
3

Money Measurement Concept

  • All business transactions must be recorded in terms of money of the country.
  • In India, transactions are recorded in rupees.
  • Transactions are recorded in monetary units, not physical units.
4

Going Concern Concept

  • This concept states that a business firm will continue its activities for an indefinite period of time.
  • It means the business is expected to continue and will not be closed in the near future.
  • It is the basis for charging depreciation on fixed assets.

Key Concepts

Central concept: GAAP and the basic concepts and conventions of accounting

Accounting ConceptsAccounting ConventionsBusiness Entity ConceptMoney Measurement ConceptGoing Concern ConceptDual Aspect ConceptConvention of ConsistencyConvention of Materiality

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Frequently Asked Questions

What are the important topics in Accounting Concepts and Conventions for NIOS Class 10 Accountancy?
Key topics in Accounting Concepts and Conventions include Accounting Concepts, Business Entity Concept, Money Measurement Concept, Going Concern Concept. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How should I revise Accounting Concepts and Conventions for the NIOS Class 10 board exam?
Learn the core ideas first, then work through the 77 practice questions on Accounting Concepts and Conventions. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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