ELEMENT OF FS

• Assets: Resource controlled by the entity as a result of past events, expected to bring future economic benefits. -
• Liabilities: Present obligation arising from past events, expected to result in an outflow of resources.
• Equity: Residual interest in the assets after deducting liabilities.
• Income: Increases in economic benefits (inflows or enhancements of assets or decreases of liabilities).
• Expenses: Decreases in economic benefits (outflows or depletions of assets or incurrences of liabilities).

ĐIỂM CẦN NHỚ

• ASSET : CONTROL + PAST EVENT + ECONOMIC BENEFIT
  -CASH INFLOW CAN BE UNCERTAIN
• LIABILITIES : OBLIGATION + PAST EVENT + CONTROL
• INCOME = REVENUE AND EXPENSE, NO RELATED TO EQUIT