Realisation and Rebate: Difference between pages

Revision as of 16:37, 28 January 2020

1.

A partial refund to someone who has paid too much money for tax, rent, or a utility.

2.

A deduction or discount on a sum of money due.

3. Verb.

Pay back (such a sum of money).

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-'Realisation' refers to the conversion of assets, profits or losses into cash.
+.
-Realisation can occur either on the receipt or payment of cash, or at an earlier time when such receipt or payment of cash becomes virtually certain.
+A partial refund to someone who has paid too much money for tax, rent, or a utility.
-Generally accepted accounting practice allows the [[recognition]] of income and assets only when their realisation in the form of cash, or other assets that are readily realisable, can be assessed with reasonable certainty.
+.
-The concept of realisation arose for the protection of the creditors of companies, to ensure that sufficient cash was available to distribute profits without a company or other entity becoming insolvent.
+A deduction or discount on a sum of money due.
-Only realised profits may be distributed under company law.
+. ''Verb.''
+Pay back (such a sum of money).
-== See also ==
-*[[Accruals basis]]
-*[[Accumulated other comprehensive income]]
-*[[Contingent assets]]
-*[[Crystallisation]]
-*[[Recognition]]
-*[[Unrealised profit]]
 [[Category:Accounting,_tax_and_regulation]]