Matching Principle
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Description
The generally accepted accounting principle that determines when expenses should be recorded in the accounting records. The revenue earned during an accounting period is matched (offset) with the expenses incurred in generating that revenue.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Matching principle
Learning Material
Covered in Topic(s)
| The Accounting Cycle: Accruals & Deferrals |
| The Accounting Cycle: Capturing Economic Events |