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Difference between economic resources & claims to economic resources

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Difference between economic resources & claims to economic resources

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  • February 14, 2018 at 4:24 am #437017
    evelynlzy
    Member
    • Topics: 11
    • Replies: 5
    • ☆

    Hi sir,

    Is there any difference between economic resources and claim to economic resources? Can I say that entity’s economic resources is asset whereas claim to economic resources
    = asset + liability?

    Thank you and have a nice day!

    February 17, 2018 at 8:10 am #437709
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7079
    • ☆☆☆☆☆

    Hi,

    Yes, the economic resources are what we own/control, i.e. assets, and the claims on those economic resources are the claims the creditors and shareholders have over those assets, i.e. equity and liabilities.

    Thanks

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