Difference between revisions of "Measurement"
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Revision as of 21:38, 6 September 2021
Definition
Measurement is an accounting term which means to quantify elements in Financial Statements in monetary terms. It is closely related to Valuation but the later term is also used outside accounting contexts.
Measurement requires the selection of a Measurement Basis. Applying a measurement basis to an asset or liability creates a measure for that asset or liability and for related income and expenses
