The matching concept is often used to test whether a particular accounting method clearly reflects income. However, the IRS’s requirement that one taxpayer’s revenue match another’s expense may not be ...

If you're a business owner, revenue recognition and the matching principle are subjects to heed because they go a long way toward computing how much your company makes over time. Investors and ...

We all are aware of the well-known doctrine of caveat emptor commonly used in contract law which places burden on the buyer to be aware about the condition of the product purchased and assume the risk ...

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...