| 单词 | accruals concept |
| 释义 | accruals concept One of the four fundamental concepts contained in Statement of Standard Accounting Practice 2, 'Disclosure of Accounting Policies', and one of the principles in the Companies Act 1985. It requires that revenue and costs are recognized as they are earned or incurred, not as money is received or paid. Income and expenses should be matched with one another, as far as their relationship can be established or justifiably assumed, and dealt with in the profit and loss account of the period to which they relate. However, if there is a conflict between the accruals concept and the prudence concept, the latter prevails. Accruals and prepayments are examples of the application of the accruals concept in practice. For example, if a rates bill for both a current and future period is paid, that part relating to the future period is carried forward as a current asset (a prepayment) until it can be matched to the future periods. |
| 随便看 |
|
英汉经管词典收录了5297条经济管理类英汉双解词条，基本涵盖了经济学、管理学、金融学、会计学、证券期货、商务活动等领域的常用英语单词及短语词组的翻译及用法，是学习及工作的有利工具。