Judgement and Liabilities: Difference between pages

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1.  
1. ''Financial reporting''.  


An evaluation, or part of an evaluation, involving professional skill and experience, as well as data.
In financial reporting, liabilities are amounts or obligations of a reporting entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, the provision of services or other yielding of economic benefits in the future.


Often associated with ''qualitative techniques''.
Examples include overdrafts, trade payables, accruals and provisions.


Liabilities are represented in the balance sheet by credit balances.


:<span style="color:#4B0082">'''''Government to revisit debt-to-GDP judgement'''''</span>


:"Before the impact of the coronavirus became clear, the government was content to run an ongoing deficit that would broadly stabilise the debt-to-GDP ratio over the medium term rather than reduce it – a judgement that it will no doubt re-visit in the wake of the current crisis."
2.  


:''The UK Office for Budget Responsibility’s coronavirus analysis, April 2020''
More generally, liabilities are any obligations or amounts owed to others (whether or not they are obligations of a financial reporting entity).




2. ''Profesional skills''
== See also ==
 
* [[Assets]]
The ability and practice of exercising and applying professional experience to an issue.
* [[Balance sheet]]
 
* [[Capital]]
 
* [[Compound instrument]]
3. ''Law''.
* [[Credit balance]]
 
* [[Disaggregation]]
Alternative spelling of ''judgment''.
* [[Equity]]
 
* [[Exemption clause]]
 
* [[Fair value]]
==See also==
* [[Financial liability]]
*[[Debt-to-GDP ratio]]
* [[Financial reporting]]
*[[Enforcement]]
* [[Indemnity clause]]
*[[Judgment]]
* [[Interest gap]]
*[[Office for Budget Responsibility]]
* [[Liabilities and equity]]
*[[Qualitative techniques]]
* [[Mismatch]]
* [[True and fair view]]
* [[Net assets]]
*[[Value judgement]]
* [[Off balance sheet finance]]
 
* [[Offset]]
[[Category:Accounting,_tax_and_regulation]]
* [[Overdraft]]
[[Category:The_business_context]]
* [[Provision]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Revision as of 16:00, 5 May 2019

1. Financial reporting.

In financial reporting, liabilities are amounts or obligations of a reporting entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, the provision of services or other yielding of economic benefits in the future.

Examples include overdrafts, trade payables, accruals and provisions.

Liabilities are represented in the balance sheet by credit balances.


2.

More generally, liabilities are any obligations or amounts owed to others (whether or not they are obligations of a financial reporting entity).


See also

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