0
The matching principle refers to matching related income and expense items in the same accounting period. For example, if you had a store and had a big sale event on the last day of the month, and recorded all the income for that day, you would also want to make sure you accrued all the expenses related to the event (advertising, etc.) even though some of those expenses might not be paid until the following month. Similarly, if you had paid any expenses in the month before the sale, you would want to defer those expenses and call them "prepaid expenses" until the month of the sale.
Russel Paucek
Add your answer:
Earn +20 pts
What are the principles of online checking?
The principles of online checking are borrowing and and saving at a bank institution. This is done at your bank branch with your account that you have there.
Golden Principles of Accounting?
Personal Account:Debit the receiver Credit the giver Real Account : Debit what comes in Credit what goes out Nominal Account : Debit all expenses and losses Credit all incomes and gains
What s mean contra posting?
As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Cash A/c to another (e.g. main cash to petty cash )or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from.Cash account to Cash accountCash account to Bank accountBank account to Cash accountBank account to Bank account
What are the principles of government accounting?
Fund accounting is the most important principle of government accounting. Separate funds are used to make it easier to account for all governmental costs.
Identify the two main categories of accounting principles?
General Principles and Specific Principles. If you want to know more about "Basic Accounting Principles and Guidelines" go for below url: www[.]accountingcoach.com/accounting-principles/explanation
What are the principles of online checking?
The principles of online checking are borrowing and and saving at a bank institution. This is done at your bank branch with your account that you have there.
Mendel principles account for genetic variation in organisms?
True yes
Which factor should be taken into account when designing the survey form?
Scientific laws and engineering principles.
What are the principles of checking account deals?
Banks will offer checking account deals to lure in new customers. The deals can be anything from better than normal interest rates, bonus amounts in your account or bonus add-ons to your account.
What type of service does the website Principles of Accounting provide?
Principles of Accounting provides free comprehension of textbooks. They provide free financial account textbooks and workbooks that you can order and study for your business.
What has the author William Napper written?
William Napper has written: 'An account of the causes and principles of the intended resignation of a parish'
What are the three accounts and its principles?
1- Real Account = Debit what comes in, credit what goes out2- Personal Account = Debit the giver and credit the reciever3- Nominal Account = Debit all expenses and payment and credit all incomes.
Do Darwin's theories of evolution by natural selection contradict the principles of biographic?
"Biographic" or "biographical" refers to an account of a person's life, and I see no reason why this theory would contradict any such account.
What has the author W D Jones written?
W. D. Jones has written: 'Principles of powder metallurgy, with an account of industrial practice' 'Fundamental principles of powder metallurgy' 'Y diweddar John Lewis, Ysw., Y.H., Llanllibio'
Golden Principles of Accounting?
Personal Account:Debit the receiver Credit the giver Real Account : Debit what comes in Credit what goes out Nominal Account : Debit all expenses and losses Credit all incomes and gains
What s mean contra posting?
As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Cash A/c to another (e.g. main cash to petty cash )or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from.Cash account to Cash accountCash account to Bank accountBank account to Cash accountBank account to Bank account
What is the Qualitative characteristic being employed when companies in the same industry are using the same account principles?
Comparability - Information that is measured and reported in a similar manner for difference companies
