天美影院

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:

鈥淩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 statements鈥攁n asset, a liability, equity, income or expenses. Recognition involves depicting the item in one of those statements鈥攅ither alone or in aggregation with other items鈥� 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 鈥榗arrying amount鈥�.鈥�

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.