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Expenses - Coggle Diagram
Expenses
Criticisms of Matching
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SAC 4 was criticised on the grounds that it was inherently 'balance sheet biased' in that it placed a bias towards B/S rather than P/L
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Definition of expenses
outflows rather than physical objects, thereby indicating a concept of value
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Matching
- probable the consumption or loss of future
- can be measured reliably
- probable means >50%