ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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MATCHING CONCEPT Definition
MATCHING CONCEPT is the accounting principle that requires the recognition of all costs that are directly associated with the realization of the revenue reported within the income statement.
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PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.
BILL OF SALE is a written statement attesting to the transfer (sale) of goods, possessions, or a business to a buyer.