1. Accounting is the process of recording and analysing transactions that involve events that can be assigned a monetary value.

2. Money measurement
In accounting, a record is kept only of the facts that can be expressed in money terms.
3. Net Worth :the net worth may be calculated by adding all assets owned by the individual and subtracting there from the liabilities owed by the individual.

For example, if a company has $45 million worth of liabilities and $65 million in assets, the company's net worth (shareholders' equity) is $20 million ($65 million - $45 million).

4. Business entity
The accounts are kept for the business itself, rather than for the owner(s), bankers, or anyone else associated with the firm. The concept states that assets and liabilities are always defined from the businesss viewpoint.

5. Depreciation
The depreciation is how we show the asset being consumed over its working life. It is simply a bookkeeping record to allow us to allocate some of the cost of an asset to the appropriate time period. 6. What Does Market Value Mean? 1. The current quoted price at which investors buy or sell a share of common stock or a bond at a given time. Also known as "market price". 2. The market capitalization plus the market value of debt. Sometimes referred to as "total market value". Investopedia explains Market Value In the context of securities, market value is often different from book value because the market takes into account future growth potential. Most investors who use fundamental analysis to pick stocks look at a company's market value and then determine whether or not the market value is adequate or if it's undervalued in comparison to it's book value, net assets or some other measure.

7. What Does Going Concern Mean? A term for a company that has the resources needed in order to continue to operate indefinitely. If a company is not a going concern, it means the company has gone bankrupt. Also known as "Going Concern Value".

Investopedia explains Going Concern In other words, this refers to a company's ability to make enough money to stay afloat or avoid bankruptcy. For example, many dotcoms are no longer going concern companies