Liabilities and General Agreement on Tariffs and Trade: Difference between pages

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imported>Doug Williamson
(Expand first definition.)
 
(Create page - source - WTO - https://www.wto.org/english/docs_e/legal_e/gatt47_01_e.htm)
 
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1. ''Financial reporting''.
''International trade - free trade - tariffs.''


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.
(GATT).


Examples include overdrafts, trade payables, accruals and provisions.
The General Agreement on Tariffs and Trade is a 1947 trade treaty designed to promote international trade by reducing or eliminating trade tariffs and quotas.


Liabilities are represented in the balance sheet by credit balances.
It was incorporated into the World Trade Organization (WTO) in 1995.




2.
==See also==
*[[European Free Trade Association]]
*[[Free trade]]
*[[International trade]]
*[[Quota]]
*[[Tariff]]
*[[Trade Facilitation Agreement]]
*[[Trade finance]]
*[[Trade war]]
*[[World Trade Organization]]  (WTO)
*[[WTO rules]]


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


==External link==
*[https://www.wto.org/english/thewto_e/thewto_e.htm The World Trade Organization (WTO) - about us]


== See also ==
[[Category:Accounting,_tax_and_regulation]]
* [[Assets]]
[[Category:The_business_context]]
* [[Balance sheet]]
 
* [[Capital]]
[[Category:Accounting,_tax_and_regulation]]
* [[Compound instrument]]
[[Category:The_business_context]]
* [[Credit balance]]
* [[Disaggregation]]
* [[Equity]]
* [[Exemption clause]]
* [[Fair value]]
* [[Financial liability]]
* [[Financial reporting]]
* [[Indemnity clause]]
* [[Interest gap]]
* [[Liabilities and equity]]
* [[Mismatch]]
* [[Net assets]]
* [[Off balance sheet finance]]
* [[Offset]]
* [[Overdraft]]
* [[Provision]]

Latest revision as of 19:06, 11 October 2023

International trade - free trade - tariffs.

(GATT).

The General Agreement on Tariffs and Trade is a 1947 trade treaty designed to promote international trade by reducing or eliminating trade tariffs and quotas.

It was incorporated into the World Trade Organization (WTO) in 1995.


See also


External link

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