Appendix A -- Defined terms
This appendix is an integral part of the Standard.
allowable expense
A[1]
An item of expense, as defined in Australian Accounting Standards, for which a regulatory agreement provides compensation by adding an amount in determining a regulated rate to be charged by an entity.
allowed revenue
A[2]
The total amount of compensation that a regulatory agreement entitles an entity to charge customers through regulated rates in a period.
chargeable income
A[3]
An item of income, as defined in Australian Accounting Standards, for which a regulatory agreement makes a deduction of an amount in determining a regulated rate to be charged by an entity.
regulated rate
A[4]
A price determined by a regulator that an entity charges for goods or services supplied to customers in a period.
regulator
A[5]
A body that is required by law or regulation to apply a regulatory agreement to determine a regulated rate (or a range for the regulated rate).
regulatory agreement
A[6]
An agreement that creates a set of enforceable rights and enforceable obligations that prescribes how a regulator determines a regulated rate (or a range for the regulated rate).
regulatory asset
A[7]
An enforceable present right, created by a regulatory agreement, to add an amount in determining a regulated rate to be charged to customers in future periods because part or all of the total allowed compensation for regulatory goods or services already supplied has not yet been included in revenue recognised from contracts with customers applying AASB 15.
regulatory capital base
A[8]
Assets and other items that a regulatory agreement entitles an entity to recover by adding an amount for regulatory depreciation in determining a regulated rate to be charged to customers.
regulatory depreciation
A[9]
The systematic allocation by a regulator of an amount of a regulatory capital base to be added in determining a regulated rate.
regulatory expense
A[10]
Expense arising from changes in a regulatory asset or a regulatory liability.
regulatory goods or services
A[11]
Goods or services supplied by an entity to comply with a regulatory agreement.
regulatory income
A[12]
Income arising from changes in a regulatory asset or a regulatory liability.
regulatory interest rate
A[13]
The interest rate specified or implied by a regulatory agreement to provide compensation for the time period until recovery of a regulatory asset or to make a deduction for the time period until fulfilment of a regulatory liability.
regulatory liability
A[14]
An enforceable present obligation, created by a regulatory agreement, to deduct an amount in determining a regulated rate to be charged to customers in future periods because part or all of the total allowed compensation for regulatory goods or services to be supplied in the future has already been included in revenue recognised from contracts with customers applying AASB 15.
regulatory return
A[15]
The return on the regulatory capital base resulting from the rate of return a regulatory agreement applies to a regulatory capital base.
total allowed compensation (for regulatory goods or services)
A[16]
The amount of compensation to which a regulatory agreement entitles an entity for regulatory goods or services supplied in a reporting period. The amount might be charged through regulated rates in either the same period as the entity supplies the regulatory goods or services, or a different period.
Term defined in another Australian Accounting Standard and used in this Standard with the same meaning
customer (defined in AASB 15)
A[17]
A party that has contracted with an entity to obtain goods or services that are an output of the entity’s ordinary activities in exchange for consideration.