Expense Matching

Accruals Concept
The accruals concept is a fundamental accounting principle that requires revenue and costs to be recognized as they are earned or incurred, rather than when money is received or paid. This concept ensures that income and expenses are matched with one another in the correct accounting period.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.