Accounting Asset

Front 1

Accounting Asset

Back 1

Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.

Front 2

Accounting Liability

Back 2

Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events.

Front 3

Accounting Revenue

Back 3

Inflows or other enhancements of assets of an entity or settlement of its liabilities (or a combination of both) during a period from delivering or producing goods, rendering services or other activities that constitutute the entity's ongoing major or central operations.

Front 4

Accounting Expense

Back 4

Outflows or other using up of assets or incurrence of liabilities (or a combination of both) during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major or central operations.

Front 5

Accounting Gain

Back 5

Increases in equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity during a period except those that result from revenues or investments by owners.

Front 6

Accounting Loss

Back 6

Decreases in equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity during a period except those that result from expenses or distributions to owners.