Search Definitions

An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. …

An intangible asset is an identifiable non-monetary asset without physical substance. …

Monetary assets are money held and assets to be received in fixed or determinable amounts of money. …

Research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. …

The residual value of an intangible asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the …

Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …

In this Standard: …

attachment date means, for a direct insurer, the date as from which the insurer accepts risk from the insured under an insurance contract or endorsement or, for a reinsurer, the date from which the reinsurer accepts risk from the direct insurer or another …

cedant means the policyholder under a reinsurance contract …

claim means a demand by any party external to the entity for payment by the insurer on account of an alleged loss resulting from an insured event or events, that have occurred, alleged to be covered by an insurance …