At EDAS 2024, I listened to the EisnerAmper presentation, which stated that FASB ASC 606 relies on the matching principle. Do you still follow or refer to the matching principle in your work? Or have your views changed since FASB released SFAS 2 and 5 on R&D and contingencies in the 1970s? I’m curious whether matching still plays a role in your accounting decisions given the shift towards asset-based approach. Please share your thoughts.
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Matching Principle
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At EDAS 2024, I listened to the EisnerAmper presentation, which stated that FASB ASC 606 relies on the matching principle. Do you still follow or refer to the matching principle in your work? Or have your views changed since FASB released SFAS 2 and 5 on R&D and contingencies in the 1970s? I’m curious whether matching still plays a role in your accounting decisions given the shift towards asset-based approach. Please share your thoughts.