Question

1. Any accountant must know how to apply the matching rule. 2. Some of the accounts in the end-of-the period trial balance sheet do not show the proper balance for preparing financial statements. 3. No commissions for the services rendered have been collected yet.

Answer 1

1. Любой бухгалтер должен знать, как применять правило сопоставления.

2. Некоторые счета в пробном балансе на конец периода не показывают надлежащего сальдо для подготовки финансовой отчетности.

3. Комиссии за оказанные услуги пока не взимаются.

Answer 2

1. The matching rule, also known as the matching principle or expense matching principle, is a fundamental accounting concept. It states that expenses should be recognized in the same accounting period as the revenues they help generate. In simpler terms, it means that the costs associated with earning revenue should be recorded in the same period as the revenue, so that the financial statements accurately reflect the company's performance for that period.

2. The end-of-the-period trial balance sheet is a summary of all the account balances in the general ledger at a specific point in time, usually at the end of an accounting period (e.g., month or year). If some accounts do not show the proper balance, it could be due to various reasons such as errors in recording transactions, posting mistakes, or incorrect adjustments. These discrepancies need to be identified and corrected before preparing the financial statements to ensure the accuracy of the final reports.

3. The statement "No commissions for the services rendered have been collected yet" suggests that the company has provided services to its customers but has not yet received payment in the form of commissions. This situation is common in businesses where commissions or fees are earned based on sales or services rendered, but the actual cash collection occurs later. From an accounting standpoint, the company should recognize the revenue (and the related commission expense, if applicable) when the services are provided or when the sales transaction occurs, regardless of whether the commissions have been collected yet. This is in accordance with the accrual basis of accounting, which focuses on recording economic events when they happen, not when the cash changes hands.