Find the best tutors and institutes for Class 12 Tuition

Find Best Class 12 Tuition

Please select a Category.

Please select a Locality.

No matching category found.

No matching Locality found.

Outside India?

What is matching concept in acvount? 

Asked by Last Modified  

CBSE/Class 11/Commerce/Accountancy

Follow 14
Answer

11 Answers

Please enter your answer

Tutor

As per Matching concept, expenditure should equal to the income for an accounting year. Purpose behind the matching concept is that the misstated earning can be avoided.
1 Comments

Tutor

As per Matching concept, expenditure should equal to the income for an accounting year. Purpose behind the matching concept is that the misstated earning can be avoided.
Comments

Accounts Teacher

As per Matching concept, if there is any expenditure incurred to gain some revenue in a specific time period, then both the income and expenditure need to be recognised during that period. Example: If freight inwards is incurred for transport of goods and the goods have been sold, then both the revenue... read more

As per Matching concept, if there is any expenditure incurred to gain some revenue in a specific time period, then both the income and expenditure need to be recognised during that period.

Example: If freight inwards is incurred for transport of goods and the goods have been sold, then both the revenue and expenditure are to be accounted during the same period. 

read less
Comments

Tutor

All costs which are incurred to earn revenue of the period should be charged against. This concept is also known as concept of efforts and accomplishment.
Comments

Tutor

Matching concept is one of those mandatory accounting concepts which says that the amount spent/incurred in the current period should have a match with the amount earned/accrued . It simply days that whatever we spend /earn should have a relevance to the other side of it.
Comments

Tutor

Matching concept as per Indian accounting states that revenue of a period should be equal to expenses of that period,iirrespective of the fact where expenditure has been incurred in full or not.expenses may be accrued but not due or due but not incurred.
Comments

Tutor

Cost should match with revenue for that period
Comments

The matching concept is an accounting practice whereby firms recognize revenues and their related expenses in the same accounting period.
Comments

Tutor

It is a concept based on accrual assumption where earnings of the period are matched with the related expenses... it helps avoiding misstatement of profits
Comments

Tutor

Expenses to be matched with the incomes of the same period, so that the profit or losses calculated are not overstated and the balance sheet shows the correct financial position
Comments

View 9 more Answers

Related Lessons


3 GOLDEN RULES OF ACCOUNTING
ACCOUNTANCY- 3 GOLDEN RULES PERSONAL AC DEBIT the RECEIVER CREDIT the GIVER REAL AC DEBIT what COMES IN CREDIT what GOES OUT NOMINAL AC DEBIT all EXPENSES AND LOSSES CREDIT all INCOME AND GAINS

Why??????
Many times I have seen that students don't understand the basic accounting knowledge. Here I am not talking about the accounting principles or concepts. I am talking about the FUNDAMENTAL knowledge behind...

Nishant Katoch | 20 May

0 0
0

Recommended Articles

If the internet has made it s way to all aspects of human life, no far stands classrooms from it. The boons of internet have entered the classrooms in the form of devices and this penetration of technology in the academic system is termed as e-learning. E-learning is a kind of teaching where computers with internet connection...

Read full article >

School, college, university or an open entrance exam, certain rules stands the same for any occasion. Doing mistake in these basic rules related to exams is foolish and simply impacts the examinee s performance. To help students score good and make any exam experience a memorable one, here is a list of six tips to follow....

Read full article >

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

When it comes deciding the right school for children, parents definitely try to be accurate. Yet the competitive academic industry offers too many options when it comes to school for children and there begins the confusion. With new schools coming up, parents get utterly confused which school will be the best for their...

Read full article >

Looking for Class 12 Tuition ?

Find best Class 12 Tuition in your locality on UrbanPro.

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you

Find Best Class 12 Tuition ?

Find Now »

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 25 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 6.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more