Theory Base of Accounting (Part 2) | Accounting Concepts, AS & Ind AS | Class 11 Accounts

When should a business record its revenue and expenses? Why is closing stock valued at cost or net realisable value, whichever is lower? And how are Indian Accounting Standards (Ind AS) different from IFRS? Learn Theory Base of Accounting Class 11 Accountancy Chapter 3 (Part 2) with MidhaFin. This live class covers important accounting concepts and principles, Accounting Standards (AS), Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFRS), with practical examples, numerical calculations and concept-based MCQs. In this session, we will explain how the Revenue Recognition, Matching and Accrual Concepts affect financial statements, why accounting practices should remain consistent, and how materiality, full disclosure, conservatism and objectivity contribute to reliable financial reporting. 📚 Topics Covered in This Live Class: ✅ Revenue Recognition Concept ✅ Matching Concept of Accounting ✅ Accrual Concept of Accounting ✅ Full Disclosure Concept ✅ Consistency Concept ✅ Conservatism or Prudence Concept ✅ Valuation of Closing Stock ✅ Materiality Concept ✅ Objectivity Concept ✅ Accounting Standards (AS) ✅ Benefits of Accounting Standards ✅ Limitations of Accounting Standards ✅ International Financial Reporting Standards (IFRS) ✅ Indian Accounting Standards (Ind AS) ✅ Difference Between AS, Ind AS and IFRS ✅ Practical Business Examples and Numerical Calculations ✅ Concept-Based MCQs for Class 11 Accountancy 🔴 Join MidhaFin Live! 📢 Share this live class with your friends and classmates to help them prepare for their Accountancy examinations. 🔔 Subscribe to MidhaFin for more Class 11 Accountancy live classes, chapter wise explanations, accounting concepts, numerical problem solving and exam focused preparation. #class11accountancy #theorybaseofaccounting #accountingconcepts #midhafin