Accruals concept: Difference between revisions
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imported>Doug Williamson m (Spacing and amend to profit or loss (not and loss).) |
imported>Doug Williamson (Add link.) |
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'' | ''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. | Also known as Matching. | ||
== See also == | == See also == | ||
* [[Accounting]] | |||
* [[Accounting concepts]] | * [[Accounting concepts]] | ||
* [[Accrual]] | |||
* [[Accruals]] | |||
* [[Accruals accounting]] | |||
* [[Accruals basis]] | |||
* [[Consistency]] | * [[Consistency]] | ||
* [[Disaggregation]] | * [[Disaggregation]] | ||
* [[Financial reporting]] | |||
* [[Financial statements]] | |||
* [[Going concern]] | * [[Going concern]] | ||
* [[Income statement]] | * [[Income statement]] | ||
* [[Matching]] | |||
* [[Profit and Loss account]] | * [[Profit and Loss account]] | ||
* [[Prudence]] | * [[Prudence]] | ||
* [[Recognition]] | |||
* [[True and fair view]] | |||
[[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.
