pexels photo 1181577 1

The money measurement concept in accounting explained.

Accounting records only those transactions which can be expressed in monetary terms.

The importance of money measurement concept is that money provides a common denomination by means of which heterogeneous facts about a business enterprise can be expressed and measured in a much better way. For e.g. When it is stated that a business owns TZS.1,00,000 cash, 500 tons of … Read the rest