MATCHING PRINCIPLE
\mˈat͡ʃɪŋ pɹˈɪnsɪpə͡l], \mˈatʃɪŋ pɹˈɪnsɪpəl], \m_ˈa_tʃ_ɪ_ŋ p_ɹ_ˈɪ_n_s_ɪ_p_əl]\
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An Accounting term that is a fundamental concept of accrual basis accounting. It offsets revenue by expenses based on their cause-and-effect relationship. It states that the costs incurred in a period should be matched against the revenue generated in the same period while measuring net income for an accounting period,.
By Henry Campbell Black
