Accounting period in which revenue is matched against related expenses (e.g., cost allocation). If an expenditure benefits a future period, it is charged to an asset account. However, if an expenditure benefits the current accounting period or if there is an inability to ascertain the period of benefit, it should be expensed in the current period.
Period of Benefit
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 | Revenue Expenditure (in accounting) |
| Pure Endowment (insurance term) |
| Percentage-Of-Completion Method (in accounting) |
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 | Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved. Read more |
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