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Impracticable Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so. For a particular prior period, it is impracticable to apply a change in an accounting policy retrospectively or to make a …

The following terms are used in this Standard with the meanings specified: …

An associate is an entity over which the investor has significant influence. …

Consolidated financial statements are the financial statements of a group in which assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic …

The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. The investor’s profit or loss includes its …

A joint arrangement is an arrangement of which two or more parties have joint control. …

Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing …

A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the …

A joint venturer is a party to a joint venture that has joint control of that joint venture. …

Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control of those …