Please answer this question as an accountant of a supermarket
What Is Matching Concept For Accountant, When Preparing Accounts Are Guided By Concepts?
This concept requires that in order to determine the profit or losses accured in a/c period the exp must related to goods or services sold during the period
The matching in accounting requires that when the periods revenue are properly recognised in conformity with the realisation concept, all the expenses incurred in earning those revenue must be matched with the revenues of the period. This means that the expenses should be deducted from the revenues in order to arrive at the net profit for the period.
