Beruflich Dokumente
Kultur Dokumente
■ Cash
entity
■ A contract that conveys to one entity a right to either (1) receive cash or
certain contracts that will or may be settled in the entity’s own equity
instruments.
Nonfinancial assets are simply all assets that are not financial assets.
Common nonfinancial assets that will be the subject of possible fair value
accounting fraud issues in this section of the book include intangible assets,
Current assets are those that are expected to be realized (i.e., converted
to cash) with one year or one reporting cycle of the entity or are held primarily
for the purpose of being traded (e.g., certain securities). Other assets,
(e.g., accounts and notes payable) or (2) exchange other financial assets or
Similar to its definition of financial assets, the IFRS definition also includes
certain contracts that will or may be settled in the entity’s own equity instruments.
accrued liabilities.
The term financial instrument is used (under both U.S. GAAP and IFRS)
with respect to any contract that results in one entity gaining a financial asset
The terms financial instrument and financial asset are used throughout this
description merely means that the asset is expected to last more than one