Plc and Realisation: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Correct typo 'Plc' initial capitalisation.)
 
imported>Doug Williamson
(Amend 'liabilities' to 'losses' to align with study materials.)
 
Line 1: Line 1:
{{lowercase}}''UK''
1. ''Financial reporting''.


Public limited company.
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.


Sometimes written 'Plc' or 'PLC'.




== See also ==
== See also ==
* [[AG]]
*[[Unrealised profit]]
* [[Company]]
* [[GmbH]]
* [[Ltd]]
* [[SA]]
*[[Limited company]]

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