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loss

vr.tr.loss · thing-loss

Let an agent handle financial losses by type, measurement, accounting and tax treatment, and route bereavement or other senses appropriately.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Type Which loss.

Kind

Trading, credit, insured.

Kind

Loss type.

  1. What kind of loss is it? definition
  2. Is it realised or unrealised? definition

Amount

Measurement.

Amount

Amount.

  1. How large is the loss, in which currency? measurement
  2. How was it measured? provenance
Accounting Reporting.

Recognition

Standards.

Recognition

Recognition.

  1. When is the loss recognised under the accounting standard? provenance
  2. Is an impairment needed? boundary

Disclosure

Transparency.

Disclosure

Disclosure.

  1. Is the loss disclosed properly? boundary
  2. In which report? provenance
Recovery Getting value back.

Insurance

Claims.

Insurance

Insurance.

  1. Is the loss insured, and how is a claim made? action
  2. What evidence is needed? definition

Tax

Relief.

Tax

Tax relief.

  1. Can the loss be offset for tax? boundary
  2. Who can advise? action
Senses Disambiguation.

Other senses

Grief, hearing, sport.

Senses

Other senses.

  1. Is bereavement, hearing loss or a sports defeat meant? boundary
  2. Which entry fits? action

Support

Grief.

Support

Support for grief.

  1. If bereavement is meant, where can support be found? action
  2. Is the tone gentle? boundary

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
observable
Other names and narrower kinds
tax benefit, tax break, nonpayment, default, nonremittal, delinquency, forfeit, forfeiture, business deduction, exemption, entertainment deduction, capital loss

What it is Filled

Something that is lost, especially a financial loss: a decrease in value, income or assets, such as a trading loss, a loss from default or nonpayment, or a tax loss that may be offset.

Why it exists Filled

Let an agent handle financial losses by type, measurement, accounting and tax treatment, and route bereavement or other senses appropriately.

Distinguishing features Filled

  • Decrease in value or assets
  • Realised or unrealised
  • Accounting and tax rules apply
  • Many non-financial senses

What robots and AI may and may not do Filled

Must not

  • Hide, delay or misstate a loss in accounts or reports to investors or authorities.
  • Shift a loss onto customers or counterparties by deception.
  • Present general information on loss relief as tax advice for a specific case.
  • Take risky positions to recover a loss without the owner's instruction.

Only with a human decision

  • Writing off a debt or recognising a material loss in published accounts.
  • Claiming tax relief for a loss on someone's behalf.

May

  • Calculate and report a financial loss from records it is authorized to read.
  • Explain how a loss is recognised and, in general terms, how tax losses may be offset.

Moral aspects Filled

  • Concealed losses can ruin savers, workers and creditors who relied on honest accounts.
  • Losses often fall on those with least power to absorb them.

Who is affected

  • Investors and savers
  • Employees
  • Creditors and customers

Owners Filled

Steward

The person or business that bears it; auditors and tax authorities review how it is reported.

Master systems

  • Company accounts filed with business registers
  • Tax authority records

Links to other meta-models Filled

parent

  • oewn-13273872-n - registry parent class

related

  • profit - result
  • accounting - practice
  • insurance - protection
  • bereavement - another sense

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.loss
  • Open English WordNet: oewn-13348698-n

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Negative results in profit and loss
  • Bad debt and default
  • Bereavement and hearing loss are other senses
  • Figures in accounts, statements and claims.

Capabilities and actions required Filled

  • measure and report losses
  • claim insurance
  • offset tax losses where allowed
  • recover debts

Hazards and failure modes required Filled

  • Hiding losses
  • Mixing realised and unrealised
  • Confusing senses

Standards and interfaces required Filled

  • IFRS 9 expected credit losses
  • National tax loss rules
  • Insurance contract law

Context of use required Filled

  • Recording and managing decreases in value.
  • operating and trading losses
  • credit losses from default
  • insured losses
  • tax losses and reliefs
  • unrealised losses

Sources Filled

  1. Open English WordNet 2024, synset oewn-13348698-n - sense and gloss of the concept
  2. Wiktionary: loss - word senses and usage

Open questions

  • Should loss types be separate entries?
  • How should bereavement be split off?
  • How should tax treatment be localised?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-loss/spec.json