February 2007
Intermediate to advanced
288 pages
6h 32m
English
book
Crash Course in Accounting and Financial Statement Analysis, Second Edition
by Matan Feldman, Arkady Libman
Content preview from Crash Course in Accounting and Financial Statement Analysis, Second Edition
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Principles 2 and 3: Accrual Basis
Accrual basis of accounting is one of the most important concepts in accounting, and governs the company’s timing in recording its revenues (i.e., sales) and associated expenses.
Principle 2: Revenue Recognition. Accrual basis of accounting dictates that revenues must be recorded when earned and measurable.
Principle 3: Matching Principle. Under the matching principle, costs associated with making a product must be recorded (“matched” to) the revenue generated from that product during the same period.
4. Amazon.com Sells a Book
Exercise
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4. Amazon.com Sells a Book
Solution
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