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.

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.

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

what is the meaning of Processing Vendor/Employee payments

0 Answers   Bank Of America,

---

Expand SOIT

2 Answers  

---

company accounts introduction?

0 Answers  

---

Queries for Big4 Articleship : Article Vacancies application starts when?

3 Answers   Deloitte, Ernst Young, KPMG, PWC,

---

what is forecast

0 Answers   IBM,

---

what happens in the stockmarket when RBI changes the CRR rates(REPO RATES)

6 Answers   Wipro,

---

what are the certificates needed at the time of SBI clerical interview?

0 Answers   ICICI, State Bank Of India SBI,

---

Dear all, what is the limit for payment to consultaion fee to avoid tds. if it is a company firm. (even it is a 1000/- shall we have to deduct 10.3%)

2 Answers  

---

what is the golden rule of accounting.

5 Answers   Religare,

---

Expand CTD

1 Answers  

---

What is Financial?

2 Answers   Capital IQ,

---

Suresh agreed to adjust Ramesh due amount of Rs 15000- from his credit balance

0 Answers  

---