The basic principles of accounting are the matching of expenses with revenue over a defined time period. An example is depreciation expense, which is a deduction made on a building’s cost over its estimated useful life. The matching of revenue and expense creates a balance in the books. An accountant must be patient and communicate the results of their work clearly and concisely. They must also be able to understand the implications of their findings. The purpose of accounting is to provide management with information about the business’s financial activities.…
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