The matching concept, or matching principle, is a fundamental element of accrual-basis accounting. In accrual accounting, a company records revenue in its books as soon as it has done everything ...

In deciding how to keep the books for your business, you have two options: cash-basis accounting or accrual-basis accounting. The difference between them boils down to timing -- specifically, when you ...

By matching expenses with revenues, the matching principle provides a more accurate representation of a company's ...

The Madras High Court held that an investment company’s interest disallowance under Section 36(1)(iii) was invalid as it followed a cash system of accounting. The Tribunal’s deletion of the addition ...

Compliance: Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) require ...

What is the Matching Rule? A fundamental principle that governs financial accounting. The matching rule requires that expenses and their related incomes are matched during a reporting period. Also ...

Courts ruled that interest paid on loans to associated companies is deductible if commercially expedient and used for business purposes. Lower interest rates compared to borrowed funds do not warrant ...