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How accrual basis of accounting is related to matching concept?
Accrual basis accounting system is based on the concept of matching principle which dictates that revenues of same fiscal year should be matched with expenses of same fiscal year.
What concept involes using government spending and taxation to influence the economy?
Fiscal Policy :)
Matching concepts of depreciation?
basic matching concept of account is that all expenses of same fiscal years should be matched with revenues of that fiscal year and depreciation is also charged for that portion of asset which is used in specific fiscal year.
The appropriation section of this fund cite best relates to which fiscal concept in the above example?
Purpose
Why you have depreciation?
Depreciation is used to allocate the fixed cost of asset to specific fiscal years during which that fixed asset is used to earn revenue if depreciation is not used then all cost is charged to one fiscal year which is against the matching concept.
What does fiscal mean?
Fiscal usually relates to matters of financial stature. Fiscal could also relate to taxes and government issues. The use of the word fiscal can be combined in conjunction with fiscal cliff, fiscal year, fiscal deficit, fiscal policy and fiscal parish.
Difference between matching and revenue recognition concept?
Matching concepts advocates the matching of one fiscal year revenues with same fiscal year expenses while revenue recogition concepts advocates the no revenue can be recognised until product is not transferred to third party.
What is fiscal duties?
What is fiscal duty?
What is full form of FISCAL?
fiscal
What is fiscal consolidation?
Fiscal consolidation is a policy aiming at reducing fiscal deficit of government .
What is the difference between fiscal and non fiscal metering?
The difference between fiscal & non-fiscal metering is when the measurement value is relevance to money.
What is the financial year in Australia?
In Australia, the financial year begins on July 1 and ends on June 30. In America, these dates are also typical, but the concept is referred to as a fiscal year.
