232 definitions found
AASB 5
Definition
A[7]
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See AASB 13 …
AASB 5
Definition
A[8]
An agreement with an unrelated party, binding on both parties and usually legally enforceable, that (a) specifies all significant terms, including the price and timing of the transactions, and (b) includes a disincentive for non-performance that is …
AASB 5
Definition
A[10]
An asset that does not meet the definition of a current asset . …
AASB 5
Definition
A[12]
The higher of an asset’s fair value less costs of disposal and its value in use . …
AASB 5
Definition
A[13]
[7] The present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful …
Conceptual Framework
Definition
[1]
The adding together of assets, liabilities, equity, income or expenses that have shared characteristics and are included in the same classification. …
Conceptual Framework
Definition
[2]
A present economic resource controlled by the entity as a result of past events. CF.4.3 …
Conceptual Framework
Definition
[3]
The amount at which an asset, a liability or equity is recognised in the statement of financial position. CF.5.1 …