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(Solved): There are general rules to follow referred to as accounting principles when you are prepare Fina ...


There are general rules to follow – referred to as accounting principles when you are prepare Financial Statements.

Prepare a posting to discuss:

  • Discuss the matching principle and how it relates to revenue and expenses reporting on financial statements
  • How financial statements are used for both internal and external purposes.


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Matching principle is especially important in the concept of accrual accounting. Matching principle states that business should match related revenues and expenses in the same period. They do this in order
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