THE ACCRUALS CONCEPT Net profit is the difference between revenues and expenses not the difference between cash receipts and cash payments. This is the accruals concept and requires the matching of expenses against revenues. By Catalin|2022-06-22T05:24:07+00:00June 22, 2022|Concepts and Conventions|0 Comments Share This Story, Choose Your Platform! FacebookTwitterRedditLinkedInWhatsAppTelegramTumblrPinterestVkXingEmail About the Author: Catalin Leave A Comment Cancel replyComment Save my name, email, and website in this browser for the next time I comment. Notify me of new posts by email.