OFC and Recognition: Difference between pages
From ACT Wiki
(Difference between pages)
imported>Doug Williamson (Classify page.) |
imported>Doug Williamson (Add link.) |
||
| Line 1: | Line 1: | ||
''Financial reporting''. | |||
Recognition is the identification and inclusion of an item in one or more of a: | |||
:(i) balance sheet, | |||
:(ii) income statement, | |||
:(iii) statement of comprehensive income, | |||
:(iv) statement of changes in equity or | |||
:(v) cash-flow statement. | |||
Certain items which are not recognised and incorporated into any of these five statements may still be disclosed in the accompanying notes to the financial statements. | |||
== See also == | == See also == | ||
*[[ | *[[Accruals concept]] | ||
*[[ | *[[Balance sheet]] | ||
*[[ | *[[Derecognition]] | ||
*[[ | *[[Disclosure]] | ||
*[[ | *[[IAS 39]] | ||
*[[IFRS 15]] | |||
*[[Income statement]] | |||
*[[Notes]] | |||
*[[Profit]] | |||
*[[Realisation]] | |||
*[[Statement of cash flows]] | |||
*[[Statement of changes in equity]] | |||
*[[Statement of comprehensive income]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 19:16, 21 December 2020
Financial reporting.
Recognition is the identification and inclusion of an item in one or more of a:
- (i) balance sheet,
- (ii) income statement,
- (iii) statement of comprehensive income,
- (iv) statement of changes in equity or
- (v) cash-flow statement.
Certain items which are not recognised and incorporated into any of these five statements may still be disclosed in the accompanying notes to the financial statements.
