Platform and Realisation: Difference between pages

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imported>Doug Williamson
(Amend 'liabilities' to 'losses' to align with study materials.)
 
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1. ''Information technology - hardware - operating systems.''
1. ''Financial reporting''.


Defined narrowly, an information technology platform is the hardware and operating system environment, in which a piece of software is run.
The realisation concept in financial reporting requires that certain key events should have taken place before income and expenditure are recognised in the financial statements at the reporting date.  


Cash does not necessarily have to have been received or paid by the reporting date, but risks and rewards of ownership have to have been transferred.


2.  ''Information technology - hardware - operating systems - software - applications.''


More broadly, any dimension of the information technology environment in which an application is run.
2. In other contexts, 'realisation' generally refers to the conversion of assets, profits or losses into cash.


In this broader sense, the platform may include software, storage, and any other supporting frameworks.
:<span style="color:#4B0082">'''''DeFi platforms - financial stability - regulatory challenges'''''</span>
:"The highly decentralised and global structure of the DeFi sector along with the difficulty to trace end users provide a unique set of challenges for regulators.
:... the degree of decentralisation currently varies across platforms.
:However, in an extreme form, a DeFi platform could be completely decentralised with no identifiable legal entity, ownership nor even a point of human contact."
:''Is 'crypto' a financial stability risk? - Bank of England - Jon Cunliffe, Deputy Governor, Financial Stability - October 2021.''
3.  ''Discussion and representation.''
Any forum for the exchange of ideas and for collective advocacy.
:<span style="color:#4B0082">'''''Neutral platform for best practice'''''</span>
:"The Official Monetary and Financial Institutions Forum (OMFIF) is an independent think tank for central banking, economic policy and public investment.
:It is established to be a neutral platform for best practice in worldwide public-private sector exchanges."
:''Official Monetary and Financial Institutions Forum - the Treasurer's Wiki.''
4.  ''Learning and development.''
Any foundational structure, or body of knowledge.
:<span style="color:#4B0082">'''''Economics helps understand business'''''</span>
:"The study of economics provides a platform for understanding business and a reference framework for business systems and techniques."
:''Economics - the Treasurer's Wiki.''




== See also ==
== See also ==
* [[Algorithm]]
*[[Unrealised profit]]
* [[Application]]
* [[Bank of England]]
* [[Blockchain Governance Initiative Network]]  (BGIN)
* [[Central bank]]
* [[Centralised finance]]  (CeFi)
* [[Crypto]]
* [[Cryptoassets]]
* [[Cryptocurrency]]
* [[Decentralised finance]]  (DeFi)
* [[Distributed ledger]]
* [[Economics]]
* [[Exchange]]
* [[Financial institution]]
* [[Financial intermediary]]
* [[Financial stability]]
* [[Hardware]]
* [[Information technology]]
*[[Invisible FX]]
* [[Learning and development]]
* [[Monetary]]
* [[Multibank platform]]
* [[New Payments Platform]]
* [[Official Monetary and Financial Institutions Forum]]
* [[Operating system]]
* [[Pension fund]]
* [[Prudential]]
* [[Regulation]]
* [[Software]]
* [[Sovereign wealth fund]]
* [[Smart contract]]
* [[Think tank]]
 
 
==External link==
*[https://www.bankofengland.co.uk/speech/2021/october/jon-cunliffe-swifts-sibos-2021 Is 'crypto' a financial stability risk? - Bank of England - Jon Cunliffe, Deputy Governor, Financial Stability - October 2021]
 
[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]
[[Category:Technology]]

Revision as of 13:31, 20 July 2015

1. Financial reporting.

The realisation concept in financial reporting requires that certain key events should have taken place before income and expenditure are recognised in the financial statements at the reporting date.

Cash does not necessarily have to have been received or paid by the reporting date, but risks and rewards of ownership have to have been transferred.


2. In other contexts, 'realisation' generally refers to the conversion of assets, profits or losses into cash.


See also