Yes, the statement is correct. According to the matching concept in accounting, expenses are recorded in the final accounts of a particular accounting year along with the revenues generated from those expenses.

Explanation:

The matching concept is a fundamental principle in accounting that states that expenses should be recognized and recorded in the same accounting period as the revenues they help generate. This concept ensures that the financial statements accurately represent the financial performance of the business for a specific period.

To further explain the concept, we can break down the statement into two parts:

1. Recording Expenses:
Expenses incurred by a business during a particular accounting period are recorded in the income statement, which is one of the components of the final accounts. These expenses can include various items such as salaries, rent, utilities, depreciation, advertising, etc. It is important to record these expenses accurately and in a timely manner to reflect the true cost of generating revenues.

2. Matching Expenses with Revenues:
The matching concept also requires that the expenses recorded in the income statement are matched with the revenues generated during the same accounting period. This means that the expenses incurred in producing goods or providing services should be matched with the revenues generated from the sale of those goods or services. By doing so, the income statement reflects the true profitability of the business by showing the expenses directly related to the revenues.

Example:
For example, if a company incurs $10,000 in advertising expenses during the year to promote its products, these expenses should be recorded in the same accounting period as the revenues generated from the sale of those products. This ensures that the expenses are accurately matched with the corresponding revenues, giving a clear picture of the profitability of the business.

In conclusion, the matching concept in accounting requires the recording of expenses in the final accounts of a particular accounting year along with the revenues generated from those expenses. This principle ensures that the financial statements accurately represent the financial performance of the business for a specific period and helps in evaluating the profitability of the business.