Recognition: Difference between revisions
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Revision as of 20:33, 30 April 2020
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 changes in equity or
- (iv) cash-flow statement.
Certain items which are not recognised and incorporated into any of these four statements may still be disclosed in the accompanying notes to the financial statements.
