Recognition and Measurement

Authored by: Peter Walton

The Routledge Companion to Accounting, Reporting and Regulation

Print publication date:  September  2013
Online publication date:  October  2013

Print ISBN: 9780415625739
eBook ISBN: 9780203103203
Adobe ISBN: 9781136243509


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Decisions about recognition and measurement are fundamental to any comprehensive basis of accounting, and to how that is applied in the accounting records and the financial statements of a reporting entity. Above all, recognition and measurement are boundary decisions in financial reporting and determine what part of the economic, social and legal whole that is a business or other entity is reported in the financial statements and how it is represented. Put another way, recognition and measurement decisions have the effect of defining the reporting entity.

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