Under matching, a company recognizes some expenses when [...]
Answer
associated revenues are recognized
Thus, expenses and revenues are matched.
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4.1. General Principles ciple . Strictly speaking, IFRS do not refer to a “matching principle” but rather to a “matching concept” or to a process resulting in “matching of costs with revenues.”29 The distinction is relevant in certain standard setting deliberations. <span>Under matching, a company recognizes some expenses (e.g., cost of goods sold) when associated revenues are recognized and thus, expenses and revenues are matched. Associated revenues and expenses are those that result directly and jointly from the same transactions or events. Unlike the simple scenario in which a company purchases inventory and s
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