Debit: intangible assets 40,000
Credit: bank deposit 40,000
1. What are the confirmation conditions for assets?
The economic benefits related to the resource are likely to flow into the enterprise and should be recognized as capital; otherwise, they should not be recognized as assets. Assets can only be recognized when the cost or value of the resource can be measured reliably.
2. What are the conditions for recognizing liabilities?
The economic benefits related to the obligation are likely to flow out of the enterprise, and the economic benefits required to fulfill the obligation are uncertain. In particular, the economic benefits related to the constructive obligation usually need to rely on a large number of estimates. The future outflow of economic benefits can be reliably measured. When recognizing the liability, while considering the outflow of economic benefits from the enterprise, the amount of future outflows of economic benefits should be reliably measured.
3. What are the main characteristics of liabilities?
1. Liabilities are current obligations borne by the enterprise: Liabilities must be current obligations borne by the enterprise, which is a basic feature of liabilities. Among them, current obligations refer to obligations that the enterprise has assumed under current conditions: obligations arising from future transactions or events are not current obligations and should not be recognized as liabilities. The obligations referred to here may be statutory obligations or constructive obligations. 2. The settlement of liabilities is expected to cause economic benefits to flow out of the enterprise: It is expected to cause economic benefits to flow out of the enterprise. This is also an essential feature of liabilities. Only when the enterprise performs its obligations will cause economic benefits to flow out of the enterprise, it meets the definition of a liability. If it does not cause an outflow of economic benefits, If the economic benefits of the enterprise are outflowed, it does not meet the definition of liability.
3. Liabilities are formed by past transactions or events: Liabilities should be formed by past transactions or events of the enterprise. in other words. Only past transactions or events create liabilities. Transactions or events such as commitments and contracts signed by an enterprise in the future do not form liabilities.
4. Liabilities are based on laws, relevant institutional regulations or contractual commitments: Liabilities are essentially economic debts that enterprises must repay after a certain period of time. It has already been stipulated and restricted by contracts and regulations at that time, and it is an obligation that enterprises must fulfill.
5. The amount of outflow of economic benefits can be measured reliably.
6. The liability has an exact creditor and repayment date, or the creditor and repayment date can be reasonably estimated.