There are different accounting concepts with different uses that apply in accounting books. It is important to involve these concepts in the books to ensure accurate accounts and make it easier for accounting users to compare companies' financial statements. This is very helpful for them to make important decisions and take appropriate actions to continue generating income from the business. However, accounting concepts also have their limitations as they cannot guarantee the accuracy of reporting. So, when we record business transactions, we also need to be careful to avoid making mistakes in the