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Yes- Many places
Example:
Going Concern and Historical Cost
Realization and Historical Cost
Practical principles are the cure
There is no conflict between the fundamental Accounting Principles,,, you may find different depreciation method that bring different results, realization or historical cost that may initially look to be conflicting but infact they are to be practiced for different situations.
It's not the Accounting Principles that conflict but it is the value judgement about where and what to apply.
no, they support each other
Qualitative characteristics of accounting information contained in the statement issued by the US Financial Accounting Standards ) FASB ( predominantly theoretical nature and have no standards or Mahart specific application
Practical
according to me cost principal have a bit of conflict with market value concept...........now look if we show our fixed asset at cost & on other side accumulated derpreciation a/c.but in case where we put the market value of asset means no accumulated depreciation account.so it will violate cost principal but at the same time it will market value principal.
NO>>>>>>>>>>>>>>>>>>>>>>>>>
If circumstances change, prudence may conflict with the consistency concept, which requires the same treatment year after year.In situations, prudence must prevail.
No Actually fundamental accounting concepts is double entry system so there is no question of conflicting each other
I agree with Mr. hafiz Amjad there is no conflict between accounting concepts
