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- Q4388479 subject Q5919364.
- Q4388479 subject Q8482205.
- Q4388479 abstract "In accrual accounting, the matching principle states that expenses should be recorded during the period in which they are incurred, regardless of when the transfer of cash occurs. Conversely, cash basis accounting calls for the recognition of an expense when the cash is paid, regardless of when the expense was actually incurred.If no cause-and-effect relationship exists (e.g., a sale is impossible), costs are recognized as expenses in the accounting period they expired: i.e., when have been used up or consumed (e.g., of spoiled, dated, or substandard goods, or not demanded services). Prepaid expenses are not recognized as expenses, but as assets until one of the qualifying conditions is met resulting in a recognition as expenses. Lastly, if no connection with revenues can be established, costs are recognized immediately as expenses (e.g., general administrative and research and development costs).Prepaid expenses, such as employee wages or subcontractor fees paid out or promised, are not recognized as expenses; they are considered assets because they will provide probable future benefits. As a prepaid expense is used, an adjusting entry is made to update the value of the asset. In the case of prepaid rent, for instance, the cost of rent for the period would be deducted from the Prepaid Rent account.The matching principle allows for a more objective analysis of profitability. By recognizing costs in the period they are incurred, a business can see how much money was spent to generate revenue, reducing "noise" from timing mismatch between when costs are incurred and when revenue is realized.".
- Q4388479 wikiPageWikiLink Q114403.
- Q4388479 wikiPageWikiLink Q1265942.
- Q4388479 wikiPageWikiLink Q13516686.
- Q4388479 wikiPageWikiLink Q1754678.
- Q4388479 wikiPageWikiLink Q2146785.
- Q4388479 wikiPageWikiLink Q243460.
- Q4388479 wikiPageWikiLink Q384475.
- Q4388479 wikiPageWikiLink Q43183.
- Q4388479 wikiPageWikiLink Q46737.
- Q4388479 wikiPageWikiLink Q4683214.
- Q4388479 wikiPageWikiLink Q46834.
- Q4388479 wikiPageWikiLink Q508295.
- Q4388479 wikiPageWikiLink Q5251509.
- Q4388479 wikiPageWikiLink Q546972.
- Q4388479 wikiPageWikiLink Q5919364.
- Q4388479 wikiPageWikiLink Q703087.
- Q4388479 wikiPageWikiLink Q815410.
- Q4388479 wikiPageWikiLink Q832927.
- Q4388479 wikiPageWikiLink Q8482205.
- Q4388479 wikiPageWikiLink Q850210.
- Q4388479 wikiPageWikiLink Q885383.
- Q4388479 comment "In accrual accounting, the matching principle states that expenses should be recorded during the period in which they are incurred, regardless of when the transfer of cash occurs.".
- Q4388479 label "Matching principle".