Act.txt

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Author:
Anonymous
ID:
84043
Filename:
Act.txt
Updated:
2011-05-05 18:32:55
Tags:
Accounting Final
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Description:
Accounting Principles
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  1. Time period Assumption
    Economic life can be divided into artificial time periods.
  2. Matching Principle
    Expenses matched with revenues in the period when efforts are expended to generate revenues
  3. Revenue and Expense Recognition
    In accordance with generally accepted accounting principles
  4. Revenue Recognition Principle
    Revenue recognized in the acocunting period in which it is earned.

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