Accruals concept

From ACT Wiki
Revision as of 14:38, 27 July 2013 by imported>Doug Williamson (Spacing and amend to profit or loss (not and loss).)
Jump to navigationJump to search

Accounting.

The principle that revenues, profits and the associated costs incurred while earning them should be included in the same period's profit or loss account or income statement.

Also known as Matching.

See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Accruals_concept&oldid=1412’