BKLM820000 - Definitions: recognition
Recognition is a widely used term that is unambiguous and clearly understood by accountants. It is defined in the IASB Framework (paragraph 5.1) thus:
바카라 사이트淩ecognition is the process of capturing for inclusion in the statement of financial position or the statement(s) of financial performance an item that meets the definition of one of the elements of financial statements바카라 사이트攁n asset, a liability, equity, income or expenses. Recognition involves depicting the item in one of those statements바카라 사이트攅ither alone or in aggregation with other items바카라 사이트� in words and by a monetary amount, and including that amount in one or more totals in that statement. The amount at which an asset, a liability or equity is recognised in the statement of financial position is referred to as its 바카라 사이트榗arrying amount바카라 사이트�.바카라 사이트�
HMRC consider that for Bank Levy purposes the assets and liabilities recognised in the financial statements are those assets and liabilities recognised prior to any presentational offset of assets and liabilities under IAS32.