Page 94 - F1 Integrated Workbook STUDENT 2018
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Chapter 5
5.2 Measurements of the elements of financial statements
Measurement is the process of determining the monetary amounts at
which the elements of financial statements are to be recognised and
carried in the balance sheet and income statement.
There are a number of different ways of measuring the elements including:
historical cost
current cost
realisable (settlement) value
present value
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