Matching Principle:
It is also known as the full disclosure principle. According to this, the revenues from a sale and cost incurred in making a sale should be accounted for in the same period.
Realization Principle:
It says that a transaction is recorded only when it actually happens. Eg, sales revenue is not counted until the sale is made, stock that is bought is valued at its cost until sold
It is also known as the full disclosure principle. According to this, the revenues from a sale and cost incurred in making a sale should be accounted for in the same period.
Realization Principle:
It says that a transaction is recorded only when it actually happens. Eg, sales revenue is not counted until the sale is made, stock that is bought is valued at its cost until sold
