Derecognition: Difference between revisions
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''Financial reporting''. | ''Financial reporting - IFRS 9''. | ||
Derecognition means ceasing to recognise a financial asset or financial liability in an entity's statement of financial position. | Derecognition means ceasing to recognise a financial asset or financial liability in an entity's balance sheet (statement of financial position). | ||
:<span style="color:#4B0082">'''''Criteria for derecognition - financial liabilities - financial assets'''''</span> | |||
:"IFRS 9 stipulates that a financial liability should be derecognised when it is extinguished - ie when the contractual obligation is discharged, cancelled or expires. | |||
:As for financial assets, these should be derecognised when the contractual rights to its cash flows expire, or when the asset is transferred (and the transfer qualifies for derecognition)." | |||
:''David Passarinho MCT - The Treasurer - 2025 Issue 1, p28''. | |||
== See also == | == See also == | ||
*[[Balance sheet]] | |||
*[[ | *[[Disclosure]] | ||
*[[ | *[[Financial asset]] | ||
*[[ | *[[Financial liability]] | ||
*[[Financial reporting]] | |||
* [[IFRS 9]] | |||
*[[Income statement]] | *[[Income statement]] | ||
*[[Notes]] | *[[Notes]] | ||
*[[Recognition]] | |||
*[[Reporting entity]] | |||
*[[Statement of cash flows]] | *[[Statement of cash flows]] | ||
*[[Statement of changes in equity]] | *[[Statement of changes in equity]] | ||
*[[Statement of financial position]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 17:41, 22 February 2025
Financial reporting - IFRS 9.
Derecognition means ceasing to recognise a financial asset or financial liability in an entity's balance sheet (statement of financial position).
- Criteria for derecognition - financial liabilities - financial assets
- "IFRS 9 stipulates that a financial liability should be derecognised when it is extinguished - ie when the contractual obligation is discharged, cancelled or expires.
- As for financial assets, these should be derecognised when the contractual rights to its cash flows expire, or when the asset is transferred (and the transfer qualifies for derecognition)."
- David Passarinho MCT - The Treasurer - 2025 Issue 1, p28.
