Accruals concept: Difference between revisions

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''Accounting''
''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.


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.
Also known as Matching.
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== 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]]
[[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.


See also