101 Matching principle - Accounting 101

Accounting Resource Outline
Playlists-Financial Accounting - Subtitles in playlist vids.
Matching principle is one of the two most fundamental accrual principles, accrual principles having to do with timing, having to do with when revenue and expenses are recognized.
The revenue recognition principle is the accrual principle governing revenue recognition. The matching principle, expense recognition principle, governs the time period that expenses should be recognized. Matching principle can seem more confusing than the revenue recognition principle because revenue recognition is the goal or objective of the business, expense generation not being the goal of the business. The reason for expenses are to help achieve the business goal, helping generate revenue. This is where we often refer to accrual expense recognition as the matching principle, the goal being to match expenses to the same time period they are used to achieve the goal of generating revenue. Expenses do not equal cash outflow but, according to the matching principle, represent assets used or liabilities incurred in order to generate revenue in the same time period.
Why Learn Accounting - Financial Accounting / Managerial Accounting
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101 Cash vs Accrual - Cash Method / Accrual method differenc
101 Revenue Recognition Principle
Double Entry Accounting System Explained - Balance Sheet
101 Income Statement Introduction
101 Accounting Objectives - Relevance Reliability Comparability
101 Transaction Rules - Accounting Equation
101 Transaction Throught Process / Steps - Accounting Equation
101 Owner Deposits Cash Transaction Accounting Equation
101 Work Completed for Cash Transaction Accounting Equation
100.110 Pay Employee with Cash Transaction Accounting Equati
200 Debits & Credits Normal Balance - Double Entry Accounting Sy
200 Debits & Credits - One Rule to Rule Them All

[spicytunaproductions]

SLOW DOWN damn.... you talk faster than my finance professor, he's the reason im looking through youtube!

[davidsantoscazarin]

En español lo conocemos como el principio de asociación de ingresos con gastos. Con lo que debes registrar en el mismo periodo contable, tanto los ingresos como los gastos que tuviste que erogar para poder generar dichos ingresos.

[jorgealonsoalvarezguluarte]

gracias a ustedes sin ustedes no somos Nada

[florianhirt]

That's it in a nutshell. Thank you for this simple and helpful tutorial. :)

[just]

I am from India and this is in our syllabus in accountancy.

[rovshdoubler]

Explain application of the matching principle in Depreciation recognition.

[Vidaluz]

when would inventory be recognized? If not at the time of purchase when would it be considered an 'incurred' expense?

[bcnicholas]

If you buy some cleaning supplies for your office that aren’t involved in generating revenue for the business, would you expense them immediately or periodically as they’re used up?

[thecatwhocaughtthelaser]

what is more advisable acrual basis of accounting or cash basis of accountig???

Under accrual basis of accounting is depreciation recorded normaly????

[peacegirlxx]

u talk way too fast but good explanation