The transactions and events must have alteast in part,financial characterstics.
What is meant by financial characterstics?
Examples Of financial characterstics?
Thanks.
1 Replies
Rashee Saxena
(CA and CS Student)
(93 Points)
Replied 26 July 2013
Financial characteristics means that the item should be measurable in terms of money.
Strike by workers for overtime is a big issue for an organisation but can't be measured in terms of money, hence will not be recorded in the books.Please don't say that loss generated by such strike can be measured as loss has already been placed to its postion, we are here for strike measurement.
But buying a cab for the overtime workers can be measured, hence is said to be having finanacial character and will be recorded.
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