Recognition and Recourse: Difference between pages

Revision as of 14:25, 5 February 2014

1. Law

A right of redress should a bill of exchange or other debt be dishonoured at its maturity.

For example, a claim against an earlier holder of the bill.

2.

More generally, seeking assistance or help from a third person or entity.

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-''Financial reporting''.
+''1. Law''
-Recognition is the identification and inclusion of an item in one or more of a:
+A right of redress should a bill of exchange or other debt be dishonoured at its maturity.
-:(i) balance sheet,
-:(ii) income statement,
-:(iii) statement of comprehensive income,
-:(iv) statement of changes in equity or
-:(v) cash-flow statement.
+For example, a claim against an earlier holder of the bill.
-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.
+.
+More generally, seeking assistance or help from a third person or entity.
 == See also ==
-*[[Accruals concept]]
+* [[Acquirer]]
-*[[Balance sheet]]
+* [[Bill of exchange]]
-*[[Capitalise]]
+* [[Factoring]]
-*[[Derecognition]]
+* [[Forfaiting]]
-*[[Disclosure]]
+* [[Non-recourse]]
-* [[Environmental profit and loss]]
+* [[Project finance]]
-*[[Expense]]
+* [[Recourse finance]]
-* [[Financial reporting]]
-* [[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]]
-[[Category:Accounting,_tax_and_regulation]]
-[[Category:The_business_context]]