Difference between revisions of "Classification"

From Open Risk Manual
(Created page with "== Definition == '''Classification''', in accounting context, is the sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for pres...")
 
 
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== Definition ==
 
== Definition ==
'''Classification''', in accounting context, is the sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for
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'''Classification''' means
presentation and disclosure purposes.
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* in accounting context, is the sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for presentation and disclosure purposes.
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* in statistical context it is the assignment of a concept or instance in a [[Taxonomy]] class.
  
 
[[Category:Accounting]]
 
[[Category:Accounting]]
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[[Category:Statistics]]

Latest revision as of 13:49, 18 October 2021

Definition

Classification means

  • in accounting context, is the sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for presentation and disclosure purposes.
  • in statistical context it is the assignment of a concept or instance in a Taxonomy class.