The matching concept, or matching principle, is a fundamental element of accrual-basis accounting. In accrual accounting, a company records revenue in its books as soon as it has done everything ...

In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

What is the Matching Rule? A fundamental principle that governs financial accounting. The matching rule requires that expenses and their related incomes are matched during a reporting period. Also ...

Past attempts to develop standards for financial reporting, whether in the form of the ARB, the Accounting Principles Board, or the more recent Financial Accounting Standards Board, took place in an ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...

UPSC EPFO 2023 General Accounting Principles Study Material: UPSC will conduct the UPSC EPFO examination on 2nd July 2023. Candidates who will write the UPSC EPFO examination should know the important ...

The two main general frameworks governing the preparation and presentation of the financial statements are the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting ...