Account Title Classification/ Measurement Recognition Derecognition

Presentation
1. Cash
Not legally  Current Asset
restricted
1. when the
Legally Restricted  Non-Current contractual rights to
Asset the cash flows from
 Foreign Currency  Current Asset Initial: Face When it is remitted the financial assets
 Compensating Value/ Fair Value to the company’s expire
Balance bank account or to 2. when an entity
(Unrestricted)  Current Asset Subsequent: Face the cashier who transfers the
(Restricted)  Non-current Asset Value/ Fair Value can issue a valid financial asset and
receipt and the qualifies
 Undelivered  Current Asset account it as cash derecognition
Checks in hand. 3. Upon disposal
 Company’s Post-  Current Asset 4. when there are
dated check no future economic
benefits from it.
Cash Equivalents
 Short-term papers  Current Asset
(3 months)

2. Receivables
 Accounts  Current Asset Initial: Fair Value + When the criteria
Receivable Transaction cost for revenue
Subsequent: Net recognition met.
Realizable Value/
Amortized Cost

o Short-term o Current Asset o Maturity Value

receivable with
 no stated
interest

 Notes Receivable  Non-Current Initial: Present

o Interest- Asset Value=Face Value
bearing o Non-Current Subsequent: Present
Asset Value=Face Value

o Non-interest o Non-Current Initial: Present

bearing Asset Value/Discounted
Subsequent: Present
Value/Discounted

o Interest- o Non-Current Fair Value or Market

bearing with Asset Value whichever is
unrealistic rate determinable

3. Investment

4. Inventories

5. Intangible Asset

6. Agricultural Asset
7. Property, Plant, and
Equipment

8. Investment Property