Income(Loss) 收益(损失) Objective: Learn basic definitions of income revenue and expense 1. Income is an increase in a entity's net assets resulting from its operations over a period of time. If decrease in its net assets, it has a loss. NE sult in a an entity' s operations over a period of time re ASSETS= ASSETS-LIABILITIES=EQUITIES 2. Revenues are increases in net assets resulting from operations over a period time Recognition is the act of making an entry into the accounting 3. Expenses are decreases in net assets resulting from operations over a period of time Matching is the process of making sure all the costs incurred in generating the revenues recognized in a period are taken as expenses in that period 账务会计账务会计 Income (Loss) 收益(损失) Objective: Learn basic definitions of income, revenue, and expense. 1. Income is an increase in a entity’s net assets resulting from its operations over a period of time. If an entity’s operations over a period of time result in a decrease in its net assets, it has a loss. NET ASSETS= ASSETS-LIABILITIES=EQUITIES 2. Revenues are increases in net assets resulting from operations over a period time Recognition is the act of making an entry into the accounting. 3.Expenses are decreases in net assets resulting from operations over a period of time. Matching is the process of making sure all the costs incurred in generating the revenues recognized in a period are taken as expenses in that period