PET - Plain English Taxonomy

Attribute: BSL00750
Label: Acceptances
Concept Guidance:
This is the value of the reporting party's acceptances as at the relevant date. Acceptances comprise undertakings by the reporting party to pay bills of exchange drawn on customers. These bills of exchange are not held as part of the reporting party's asset portfolio. Acceptances are accounted for and disclosed as a liability with a corresponding contra asset. The contra asset is recognised to reflect the reporting party's claim against each drawer of the bills of exchange. The measurement and classification basis used is to be in accordance with the accounting standards. 
This attribute does not have any dimensions.