Recognition

From ACT Wiki
Jump to navigationJump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.

Financial reporting.

In financial reporting, recognition is the identification and inclusion of an item in one or more of a:

(i) balance sheet,
(ii) income statement,
(iii) statement of comprehensive income,
(iv) statement of changes in equity or
(v) cash-flow statement.


Certain items which are not recognised and incorporated into any of these five statements may still be disclosed in the accompanying notes to the financial statements.


See also