What are the difference between Accounting policies and Accounting base's?

Accounting policies are the specific principles, bases, conventions, rules, and practices applied by an entity in preparing and presenting its financial statements. In contrast, accounting bases refer to the underlying framework or assumptions used to measure and recognize financial transactions, such as cash basis or accrual basis accounting. Essentially, while accounting policies dictate how an entity applies the accounting standards, accounting bases determine the timing and recognition of revenues and expenses. Both are crucial for ensuring consistency and comparability in financial reporting.