Accruals concept: Difference between revisions
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imported>Doug Williamson m (Spacing and amend to profit or loss (not and loss).) |
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''Accounting''. | ''Accounting''. | ||
The principle that revenues, profits and the associated costs incurred while earning them should be included in the same period's profit | |||
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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* [[Profit and Loss account]] | * [[Profit and Loss account]] | ||
* [[Prudence]] | * [[Prudence]] | ||
Revision as of 14:38, 27 July 2013
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.
