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Ms. Shravani , our accounts manager, is responsible for overseeing financial activities at Mogra...

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Accounting

Ms. Shravani , our accounts manager, is responsible for overseeing financial activities
at Mogra Enterprises. She ensures accurate bookkeeping and compliance with accounting
assumptions. Her junior executive is confused about how the various accounting
assumptions plays a vital role in accounting. Further she wants Ms Shravani to help her in
understanding the difference between the accounting period assumption and separate entity
assumption, Discuss how (you being) Ms. Shravani would like to explain all these in
simple terms.

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