The document discusses the recognition and measurement of assets and liabilities. It defines assets as items of economic value that can generate future benefits, and liabilities as obligations owed. An asset is recognized if future benefits are probable and measurable, while a liability is recognized if an outflow is probable from settling a present obligation. The document also discusses various methods for measuring assets, such as historical cost and net present value, and liabilities, such as historical cost and present value. It concludes that the identification and transfer of assets and liabilities between organizations will be discussed at an upcoming summit.