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matching of costs with revenues

Article ID: 2067
Last updated: 16 Feb, 2022

A process in which expenses are recognised in the income statement [statement of comprehensive income] on the basis of a direct association between the costs incurred and the earning of specific items of income. This process involves the simultaneous or combined recognition of revenues and expenses that result directly and jointly from the same transactions or other events. However, the application of the matching concept does not allow the recognition of items in the balance sheet [statement of financial position] which do not meet the definition of assets or liabilities.

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Article ID: 2067
Last updated: 16 Feb, 2022
Bản cập nhật: 1
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Ngày đăng: 16 Feb, 2022 by Nguyễn Chinh - Công ty Tâm An
Ngày cập nhật: 16 Feb, 2022 by Nguyễn Chinh - Công ty Tâm An
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