Accruals concept

Financial reporting - accounting concepts.

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

• Accounting
• Accounting concepts
• Accruals accounting
• Consistency
• Disaggregation
• Going concern
• Income statement
• Profit and Loss account
• Prudence