Question

This is a graded discussion: 10 points possible due Feb 20 Ch 5 Weekly Forum/Discussion - (Share your thoughts) 12 28 Discussion: At the beginning of the chapter, there is a short paragraph about the Financial service firm, Deloitte Touche Tohmatsu Limited (Deloitte). Let's read this together... Question: Careful recordkeeping is critical to all businesses, large and small. Why does matching these revenues and expenses within the same year, matter so much? Please click on the Reply link below, and post your answer. * To receipt the full credit, the following criteria must be met: A two-paragraph specific and thoughtful response to this topic, and Two or more replies with guidance and/or thoughtful feedback to your classmates' replies. Your Ch 5 discussion will be graded using the rubric Subscribe Unread m m Search entries or author

Answer 1

other storage Integrity can be consistent, and up-to made in one place in D increase if the same data making the change in to erefore sig pro Answar: - Careful Record keeping is Critical to all business, Large & Small, why does Matching there Revenue and Expenses within the same year, Mattes so much, See these is the requirment of Matching Principle & why Matchny Principle is Important is because financial statements are Needs to be shown with consistance and In Mate- -ing Principle we recognise on Income well only the if there is Certanity to Receivable & Expanses on accurat basis lie, to Record in the sanae Year when they are Expended. So, these Process Provides us with an consistancy Secondly matching there Revenue with Experses gives us an accurate Art of Profit & loss for the year. Every business idatifin Measures its peace Performance for the Year based on its to profit & loss figures and In that case accurate Amt gives on true a fair Vein to the beard & Helps there in making their Strategies accordingly which will help them improvise these peo performance in the coming years. Conclusion. Mese are two Main Persan Reason's behind Matching Principles and that are i con To provide consistance i To Provide accurate financial Position