MGAC01H3 Lecture Notes - Lecture 4: Matching Principle

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M - measurement in terms of rev and costs. Write every other line so when you are checking and need to include something can add first quantitative and then qualitative analysis. Outline: ranking issues: cannot start with expenses, must start with revenue because of the matching principle. Case example - bronwyn (similar to midterm case) Case overview (case outline that does not get included into the case itself but facts get integrated throughout) Bank that need aspe statements and debt to equity ratio 2:1 (ensure income is greater than debt but lowers debt to equity ratio) Bob want revenue to be recognized earlier than later, wants aspe and is bias to report to ensure he doesn"t lose his cottage. Conflict because bank wants accuracy, bob may construe. Constraint: would not want to sell cottage, debt to equity is a contractual and financial constraint. Bob is a key success factor (ksf)

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