Difference between revisions of "Measurement"
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== Definition == | == 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''' 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. |
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| − | 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 | + | In statistical context measurement means the acquisition of data. |
[[Category:Measurement]] | [[Category:Measurement]] | ||
[[Category:Valuation]] | [[Category:Valuation]] | ||
| + | [[Category:Statistics]] | ||
Latest revision as of 14:56, 18 October 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.
In statistical context measurement means the acquisition of data.
