Recognition: Difference between revisions
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== See also == | == See also == | ||
*[[Accruals concept]] | |||
*[[Balance sheet]] | *[[Balance sheet]] | ||
*[[Derecognition]] | *[[Derecognition]] | ||
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.
