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21 wages are an expense to the employer when earned rather than when paid 22 immater 4298217

 

 

21. Wages are an expense to the employer when earned, rather than when paid. 
 

 

22. Immaterial items may be accounted for in the most convenient manner, without regard to other theoretical concepts. 
 

 

23. All assets should be depreciated. 
 

 

24. Materiality is a matter of professional judgment. 
 

 

25. An expenditure that benefits the year in which it is made should be deducted from revenue in the same year. 
 

 

26. An expenditure that benefits year one but is paid for in year two should not be capitalized until year two. 
 

 

27. Companies that engage in fraud will often capitalize an asset rather than an expense account. 
 

 

 

 

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