entities who report data points follow the convention’ and allows to ‘sign know the attribute that corresponds to each data point. ‘credit/debit’ Schematically, this convention works as in Table 1. Table 1 Credit/debit convention, positive and negative signs Credit Balance Element Figure reported /Debit /Movement Positive Balance on assets (‘Normal’, no sign needed) Positive Increase on assets (‘Normal’, no sign needed) Assets Negative Negative balance on assets (Minus sign needed) ‘-’ Negative Decrease on assets (Minus sign needed) ‘-’ Positive Balance on expenses (‘Normal’, no sign needed) Positive Increase on expenses (‘Normal’, no sign needed) Expenses Negative balance (including Negative reversals) on expenses (Minus sign needed) ‘-’ Negative Decrease on expenses (Minus sign needed) ‘-’ Positive Balance on liabilities (‘Normal’, no sign needed) Positive Increase on liabilities (‘Normal’, no sign needed) Liabilities Negative Negative balance on liabilities sign needed) ‘-’ Negative Decrease on liabilities (Minus sign needed) ‘-’ Positive Balance on equity (‘Normal’, no sign needed) Positive Increase on equity (‘Normal’, no sign needed) Equity Credit Negative balance on equity Negative sign needed) ‘-’ Negative Decrease on equity (Minus sign needed) ‘-’ Positive Balance on income (‘Normal’, no sign needed) Positive Increase on income (‘Normal’, no sign needed) Income Negative balance (including Negative reversals) on income (Minus sign needed) ‘-’ Negative Decrease on income sign needed) ‘-’
entities who report data points follow the ‘sign convention’ and allows to know the ‘credit/debit’ attribute that corresponds to each data point. Schematically, this convention works as in Table 1. Table 1 Credit/debit convention, positive and negative signs Element Credit /Debit Balance /Movement Figure reported Assets Balance on assets Positive (‘Normal’, no sign needed) Increase on assets Positive (‘Normal’, no sign needed) Negative balance on assets Negative (Minus ‘-’ sign needed) Decrease on assets Negative (Minus ‘-’ sign needed) Expenses Balance on expenses Positive (‘Normal’, no sign needed) Increase on expenses Positive (‘Normal’, no sign needed) Negative balance (including reversals) on expenses Negative (Minus ‘-’ sign needed) Decrease on expenses Negative (Minus ‘-’ sign needed) Liabilities Credit Balance on liabilities Positive (‘Normal’, no sign needed) Increase on liabilities Positive (‘Normal’, no sign needed) Negative balance on liabilities Negative ‘-’ sign needed) Decrease on liabilities Negative (Minus ‘-’ sign needed) Equity Balance on equity Positive (‘Normal’, no sign needed) Increase on equity Positive (‘Normal’, no sign needed) Negative balance on equity Negative ‘-’ sign needed) Decrease on equity Negative (Minus ‘-’ sign needed) Income Balance on income Positive (‘Normal’, no sign needed) Increase on income Positive (‘Normal’, no sign needed) Negative balance (including reversals) on income Negative (Minus ‘-’ sign needed) Decrease on income Negative ‘-’ sign needed)
Annex+3+to+CP+on+FINREP+-+Annex+V+%28instructions+with+changes+tracked%29.docx