Accruals concept: Difference between revisions
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imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
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should be included in the same period's profit or loss account or income statement. | should be included (recognised) in the same period's profit or loss account or income statement. | ||
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* [[Profit and Loss account]] | * [[Profit and Loss account]] | ||
* [[Prudence]] | * [[Prudence]] | ||
* [[Recognition]] | |||
* [[True and fair view]] | * [[True and fair view]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 19:16, 21 December 2020
Financial reporting - accounting concepts.
The principle that:
- Revenues, profits and
- The associated costs incurred while earning them
should be included (recognised) in the same period's profit or loss account or income statement.
Also known as Matching.
