Posted: September 23rd, 2022

You must explain the exception, why this exception exists, and how the income statement would be affected if this exception did not exist.

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Matching Principle – Chapter 3
Most companies recognize revenue when it is earned, and the expenses associated with that revenue in the same period. Companies follow this protocol due to the Matching Principle. Using at least 1 outside source (not your textbook)
Explore in detail one exception to the Matching Principle. You must explain the exception, why this exception exists, and how the Income Statement would be affected if this exception did not exist. Book/Materials-Fundamentals of Financial Accounting 7e (with Connect)
Author: Philips, F., et al. (2022)
Publisher: McGraw Hill
Edition: 7TH
ISBN: 978-1260771381

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