List of Fundamental Accounting Concepts

Last updated: 4/15/2021 8:14:24 AM

Line Financial Statement Location Concept Name Concept Label Required to report? May redefine or replace? May create new? May add new subclass?
1 Balance sheet fac:Assets Assets YES NO NO YES
2 Balance sheet fac:CurrentAssets Current Assets YES NO NO YES
3 Balance sheet fac:CurrentLiabilities Current Liabilities YES NO NO YES
4 Balance sheet fac:Equity Equity YES NO NO NO
5 Balance sheet fac:EquityAttributableToControllingInterests Equity Attributable to Controlling Interests NO NO NO NO
6 Balance sheet fac:EquityAttributableToNoncontrollingInterests Equity Attributable to Noncontrolling Interests NO NO NO NO
7 Balance sheet fac:Liabilities Liabilities NO NO NO NO
8 Balance sheet fac:LiabilitiesAndEquity Liabilities and Net Assets YES NO NO NO
9 Balance sheet fac:NetAssets Net Assets NO NO NO NO
10 Balance sheet fac:NoncurrentAssets Noncurrent Assets NO NO NO YES
11 Balance sheet fac:NoncurrentLiabilities Noncurrent Liabilities NO NO NO YES
12 Cash flow statement fac:NetCashFlow Net Cash Flow YES NO NO NO
13 Cash flow statement fac:NetCashFlowFromFinancingActivities Net Cash Flow From Financing Activities YES NO NO NO
14 Cash flow statement fac:NetCashFlowFromInvestingActivities Net Cash Flow From Investing Activities YES NO NO NO
15 Cash flow statement fac:NetCashFlowFromOperatingActivities Net Cash Flow From Operating Activities YES NO NO NO
16 General fac:BalanceSheetDate Balance Sheet Date NO NO NO NO
17 General fac:DocumentType Document Type YES NO NO NO
18 General fac:EconomicEntityIdentifier Economic Entity Identifier YES NO NO NO
19 General fac:EconomicEntityName Economic Entity Name YES NO NO NO
20 Income statement fac:ComprehensiveIncomeLoss Comprehensive Income (Loss) YES NO NO NO
21 Income statement fac:Expenses Expenses YES NO NO YES
22 Income statement fac:Gains Gains NO NO NO YES
23 Income statement fac:IncomeFromNormalActivitiesOfEntity Income from Normal Activities of Entity NO NO NO YES
24 Income statement fac:IncomeFromPeripheralOrIncidentalTransactionsOfEntity Income from Peripheral or Incidental Transactions of Entity NO NO NO YES
25 Income statement fac:Losses Losses NO NO NO YES
26 Income statement fac:NetIncomeLoss Net Income (Loss) YES NO NO NO
27 Income statement fac:OtherComprehensiveIncome Other Comprehensive Income YES NO NO NO
28 Income statement fac:Revenue Revenue YES NO NO YES