What Is Accruals/matching Concepts?


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dee chaffs answered
The matching concept is based on the fact that accounting is divided into fixed period of say 12 preparing financial statements ,income/proits of a period have to be matched with expenses of the period,that is ,each period s expense has to be deducted from that period s profits.the concept of having to take into account expenses incurred but unpaid when preparing financial statements is normally referred to as accrual concept.

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