Recognition: Difference between revisions
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''Financial reporting''. | ''Financial reporting''. | ||
In financial reporting, recognition is the identification and inclusion of an item in one or more of a: | |||
:(i) balance sheet, | :(i) balance sheet, | ||
:(ii) income statement, | :(ii) income statement, | ||
Revision as of 12:39, 14 April 2024
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
- Accruals concept
- Balance sheet
- Capitalise
- Contingent assets
- Derecognition
- Disclosure
- Environmental profit and loss
- Expense
- Financial reporting
- IAS 16
- IAS 38
- IFRS 9
- IFRS 15
- Income statement
- Notes
- Primary statements
- Profit
- Realisation
- Revenue
- Revenue recognition
- Statement of cash flows
- Statement of changes in equity
- Statement of comprehensive income
