discuss how accrual concepts and matching concepts are the
same
- 3 Answers
- 10396 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / krishnachaitanyanellore
According to Accrual/Mercantile concept of accounting, the
incomes/expenses are treated as incomes/expenses during the
period they belong to irrespective of whether they are
realized or not.
According to the matching concept, the incomes generated
during a period should be equal to the expenses incurred in
the same period.
Both of them are not exactly same but are nearly same.
| Is This Answer Correct ? | 19 Yes | 5 No |
Answer / vikram l
Accrual concept of accounting is one that is exactly
contradictory to the cash basis of accounting.In accrual
system or method of accounting all the expenses and incomes
are booked as and when they falls due or is earned
respectively.
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / keith
the income generated should be matched with the cost of
producing the sold items,that is as a good is sold it must
be be removed from stock
| Is This Answer Correct ? | 0 Yes | 0 No |
What are the responsibilities of corporate finance officer ?
What is a variable?
what is the difference between credit and debit note?
55 Answers Accenture, FMCG, Private, Redson, TATA,
what is the difference between sap and sas?
0 Answers Royal Bank Of Scotland,
what is diffence between Ltd. Company and Pvt. Ltd. Company
what is Ratio Analysis ?
Define capital
Machinery Rate is 12000/- and residual value is 2000/- and life span is 10yrs.Calculate the dep in Straight line method.
What is Profir/Earning Before Tax and Profit after tax any one explaint this Clearly.
Pass Journal Entry for the following Mr.A is running Furniture Business. He bought 10 chairs at Rs.1000 each. He used one chair for his personal use.
What is Debt and What is Equity?
What is called Take Over?
Audit 
