matching principle

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Accrual Based Accounting GAAP Rules

See Also: Accrual Based Accounting Revenue Recognition Principle — GAAP The revenue recognition principle states that revenue is recognized when earned. In other words, collect the money for services rendered. Revenue is considered earned when the company has fulfilled its obligation to the customer. For example, if a customer orders a product from a company,

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Accounting Principles 5, 6, and 7

See Also: Accounting Principles 1, 2, and 3 Continuous Accounting: The New Age of Accounting Accounting Concepts Point of Sale (POS) Method Generally Accepted Accounting Principles (GAAP) Financial Accounting Standards Board (FASB) Adjusting Entries Accumulated Amortization Accounting Principles 5, 6, and 7 Description Basic accounting principles are both generally held and regulated under Generally Accepted

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