Recognition: Difference between revisions
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imported>Doug Williamson (Add statement of comprehensive income.) |
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''Financial reporting''. | ''Financial reporting''. | ||
Recognition is the identification and inclusion of an item in one or more of a | 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 11:19, 29 October 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 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.
