Measurement rules - PowerPoint PPT Presentation

Lecture 2. Accounting Concepts and Policies

Lecture 2. Accounting Concepts and Policies. BOUNDARY RULES. MEASUREMENT RULES. ETHICAL RULES. Accounting concepts can be classified into 3 main categories:. Boundary Rules. Separate Business Entity. Going Concern. Periodicity. Quantitative. Boundary Rules.

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Customary Measurement Length, Capacity, and Weight

Customary Measurement Length, Capacity, and Weight. Measurement Rules. 1.) When converting large units (mile) to a smaller unit (in). The rule is we multiply . 2 mile _______ in First convert miles to feet 5280 ft = 1 mile 5280 x 2 = 10,560ft Next, convert ft to inches 12in = 1 ft.

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