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Accounting Concepts with Examples

January 2017 | 3 pages | ID: A5CD6190D2FEN
Sadia Saeed

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Matching concept of the accounting is defined as the expenditures incurred by corporation should be recorded in financial records by aligning it with the revenues recognized for the same time period in the financial accounting. The major benefit associated to this accounting concept is that it excellently align the earnings with the expenditures for the same period of time but the main restriction is that it do not work excellently when we use it for recording the long time interest and revenues as in it normally display high risk premium (John Molly, 2015). Cont... (500 words of this report)
Matching Principle
Consistency in Accounting
Materiality Concept

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