It is correctly said that, “Accounting was born without prior notice and brought up in negligence”. It means accountancy was first practiced and its principles (that is, rules and guidelines) were developed later on. Copy the link given below and paste it in new browser window to get more information on Money Measurement Concept:- http://www.transtutors.com/homework-help/accounting/accounting-basics-money-measurement-concept/

2. ACCOUNTING PRINCIPLES
Accounting principles can be subdivided into
two categories:
 Accounting Concepts; and
 Accounting Conventions.

3. ACCOUNTING PRINCIPLES
Accounting Concepts
The term ‘concept’ is used to connote
accounting postulates, that is necessary
assumptions and conditions upon which
accounting is based.

5. • Business Entity Concept
• Money Measurement Concept
• Cost Concept
• Going Concern Concept
• Dual Aspect Concept
• Realization Concept
• Accounting Period Concept
Accounting Concepts

6. ACCOUNTING CONVENTIONS
• Convention of Consistency
• Convention of Disclosure
• Convention of Conservation

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