Accounting Principles: Consistency such as seeing the same expenses monthly on the reports, Direct/Variable Costs go into COGS and Indirect/Fixed Costs go into expenses, Revenue Recognition such as having a CONSISTENT policy on INVOICE dates driven by delivery date or service completion date, Expense MATCHING such as making sure that expenses follow the income even if they are not paid by creating the Bills on the correct dates, COMPARABILITY such as being ABLE to compare this month with last year’s same month.

Accounting Principles: Consistency such as seeing the same expenses monthly on the reports, Direct/Variable Costs go into COGS and Indirect/Fixed Costs go into expenses, Revenue Recognition such as having a consistent policy on Invoice dates driven by delivery date or service completion date, Expense Matching such as making sure that expenses follow the income even if they are not paid by creating the Bills on the correct dates, Comparability such as being able to compare this month with last year’s same month.