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  2. Matching principle - Wikipedia

    en.wikipedia.org/wiki/Matching_principle

    By recognising costs in the period they are incurred, a business can determine how much was spent to generate revenue, thereby reducing discrepancies between when costs are incurred and when revenue is realised. In contrast, cash basis accounting requires recognising an expense when the cash is paid, irrespective of when the expense was ...

  3. Fixed Expenses vs. Variable Expenses: What’s the Difference?

    www.aol.com/fixed-expenses-vs-variable-expenses...

    Final Take To GO. Budgeting can be easier when you breakdown your expenses into three categories — needs, wants and savings. 50% goes to necessities, 30% to wants and 20% to the savings category ...

  4. Adjusting entries - Wikipedia

    en.wikipedia.org/wiki/Adjusting_entries

    In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting .

  5. Accrual - Wikipedia

    en.wikipedia.org/wiki/Accrual

    These expenses are recorded when incurred, even if the payment will happen later. For instance, a company may receive services in one period but pay for them in the next. The uncertainty surrounding the timing or exact amount of accrued expenses is usually minor compared to provisions, which account for larger uncertainties. [1]

  6. Deferral - Wikipedia

    en.wikipedia.org/wiki/Deferral

    A deferred expense is similar to accrued revenue, where proceeds from goods or services delivered are recognized as revenue in the period earned, while the cash for them is received later. For example, if insurance is paid annually, 11/12 of the cost would be recorded as a prepaid expense, decreasing by 1/12 each month as the expense is ...

  7. Flexible spending account - Wikipedia

    en.wikipedia.org/wiki/Flexible_spending_account

    The employee contributes to the FSA in small increments throughout the year (for example, 1/26 of the annual amount if one is paid every two weeks), but taken together, all employees of a company contribute the full average amount during any given period, and no real risk is incurred by the employer.

  8. Basis of accounting - Wikipedia

    en.wikipedia.org/wiki/Basis_of_accounting

    The accrual method records income items when they are earned and records deductions when expenses are incurred. The modified cash basis records income when it is earned but deductions when expenses are paid out. Both methods have advantages and disadvantages, [2] [3] and can be used in a wide range of situations. [4]

  9. Abcarian: This is why Donald Trump just doubled down on ... - AOL

    www.aol.com/news/abcarian-why-donald-trump-just...

    He then preposterously claimed that more than 13,000 undocumented "murderers" had been “released into our country over the last three years." “They’re walking down the streets,” he said.