Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

One of the main principles of accounting is known as the matching principle. Matching is the practice of matching your revenue and expenses together. Many companies I’ve worked with don’t put in a lot ...

What is the Matching Rule? A fundamental principle that governs financial accounting. The matching rule requires that expenses and their related incomes are matched during a reporting period. Also ...

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...

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