\mˈat͡ʃɪŋ pɹˈɪnsɪpə͡l], \mˈatʃɪŋ pɹˈɪnsɪpəl], \m_ˈa_tʃ_ɪ_ŋ p_ɹ_ˈɪ_n_s_ɪ_p_əl]\
Definitions of MATCHING PRINCIPLE
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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
Word of the day
Brazilian Pepper Tree
- small Brazilian evergreen resinous tree or shrub having dark green leaflets and white flowers followed by bright red fruit; used as a street lawn specimen