Recognition

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
• Derecognition
• Disclosure
• Environmental profit and loss
• IAS 39
• IFRS 15
• Income statement
• Notes
• Primary statements
• Profit
• Realisation
• Statement of cash flows
• Statement of changes in equity
• Statement of comprehensive income