31375256
Beschreibung
Mindmap von Nur Sarahusna, aktualisiert more than 1 year ago
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Erstellt von Nur Sarahusna
vor mehr als 3 Jahre
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ACCOUNT FOR
TRADE PAYABLE
- Provisions
- definition: provisions are
liabilities of uncertain
timing or amount or both
- Initial recognition of
Provisions
- an entity has a present obligation
as a result of past event
- it is probable that an outflow of
resources embodying economic
- a reliable estimate can be made
of the amount of obligation
- an entity has a present obligation
as a result of past event
- Initial measurement of
Provision
- Factors affect the amount of provision
- best
estimate
- risk and uncertainties
- present value
- future
event
- expected disposal of
assets
- best
estimate
- (dt) expenses account
(cr) provision account
- Factors affect the amount of provision
- definition: provisions are
liabilities of uncertain
timing or amount or both
- Trade payable
- definition: trade payable are cash owned by an entity
to the supplier of goods and services
- trade payable as current
liability when:
- it is a present obligation
- it is the result of
past
transaction/event
- it can be
measured reliably
- it is classified as cash or cash
equivalent unless the assets are
restricted from being exchanged or
used to settle a liability for at least
after 12 months
- it is a present obligation
- trade payable as current
liability when:
- Initial recognition of trade
payable
- An entity shall recognized trade payable in the
financial statement when the entity becomes a
party to contractual provision of the intrument
- initial measure trade payable:
(dt) purchase account. (cr) trade
payable account
- when payment made:
(dt) trade payable
account. (cr) bank or
cash account
- when payment made:
(dt) trade payable
account. (cr) bank or
cash account
- initial measure trade payable:
(dt) purchase account. (cr) trade
payable account
- An entity shall recognized trade payable in the
financial statement when the entity becomes a
party to contractual provision of the intrument
- definition: trade payable are cash owned by an entity
to the supplier of goods and services
- Contingent liability
- Definition: a possible obligation that
arises from past events and whose
existence will be confirmed only by the
occurrence or non-occurrence of one or
more uncertain future event
- a present obligation that arises from
the past but is not recognized because:
- it is not probable that an outflow of
resources embodying economic
- the amount of the obligation
cannot be measure
- it is not probable that an outflow of
resources embodying economic
- a present obligation that arises from
the past but is not recognized because:
- Example of contingent liability
- product warranty
- lawsuit - copy pattern
- cases or pending investigation
- product warranty
- Definition: a possible obligation that
arises from past events and whose
existence will be confirmed only by the
occurrence or non-occurrence of one or
more uncertain future event
- Contingent
assets
- Definition: a possible asset that arises from past
event and only confirmed by the occurrence or
non-occurrence of one or more uncertain future
event. A contingent asset should be disclosed where
an inflow is probable
- Definition: a possible asset that arises from past
event and only confirmed by the occurrence or
non-occurrence of one or more uncertain future
event. A contingent asset should be disclosed where
an inflow is probable
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