Question

Due to which concept, accounting does not record

Q: Answer-Due to which concept, accounting does not record non-financial transactions?

Accounting does not record non-financial transactions because of the money measurement concept . This concept states that only transactions that can be expressed in monetary terms can be recorded in the accounting records. Non-financial transactions, such as the appointment of a new manager or the development of a new product, cannot be expressed in monetary terms and therefore are not recorded in the accounting records.