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concept   >  event


class / concept
 event
sub-class of
 concept
full name, other names

accounting event, occurrence
description

Business event which has an accounting implication.

An event having accounting significance; a transaction or other occurrence, happening or activity that affects the accounts of, or has an economic impact on, the entity.
consists of following members (types)

transaction  .  subsequent event (usfr-namda:SubsequentEvents)  .  non-recurring event  .  activity  .

has attributes

date (& time)  .  amount
is related to

double-entry bookkeeping  .  activity  .  measurement  .  accrual basis  .

is recorded by

provider
is reflected in financial statements through the process of

recognition
also see

news events  .


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notes

The term "event" singly is used more generally in the topic map.

Compare with accounting theme: a collection of related business events and general theme or activity which has implications for a general accounting treatment.

accounting subject: The subject of a standard or particular accounting treatment, eg a financial statement element, accounting method, a type of transaction such as leasing, an industry, a financial statement, an accounting theme, and lastly an accounting situation; A collection of business events and general situation or activity which has implications for a general accounting treatment.

IPSAS-14 Events After the Reporting Date;  AUS706 Subsequent Events; 

A transaction or event is recorded at the proper amount and revenue or expense is allocated to the proper period. [IAS]
electronic thesaurus of accounting and auditing terms comprising a hierarchy of concepts and their associations AND an index of accounting and auditing internet resources and training materials built on the thesaurus

This page was first published in April 2002; last updated in June 2015.