- Accounting deals only with past transaction
- Accounting does not show the facts like efficient management, demand of products of firm
- Accounting does not show the effect of inflation
- Accounting records deals with the transaction that measured in monetary terms
- Accounting records does not deals with the transaction that are non monetary terms
- In Accounting different method of depreciation, Valuation of inventory stocks, differed revenue expenditure are available so personal judgment of the accountant are influenced
Wednesday, August 7, 2013
Limitation of Accounting
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