Effects of accounting concepts’ application on the firm’s performance
This study examines how the theory and application of Business Entity and Objectivity Concepts influence the performance of a firm. It highlights on how these fundamental concepts, under Accounting Concepts, influence the activities and the performance of an organisation. To achieve the objective of this study, comprehensive literature and industrial observations are used. The study finds direct relationship between proper application of business entity and objectivity concepts and the performance of an organisation.