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Grouping an asset and liability that are recognised and measured as separate units of account into a single net amount in the statement of financial position.   …

Uncertainty about the amount or timing of any inflow or outflow of economic benefits that will result from an asset or liability.   …

Within an economic resource, a feature that already exists and that, in at least one circumstance, would produce for the entity economic benefits beyond those available to all other parties.   …

Existing and potential investors, lenders and other creditors.   CF.1.2 …

The exercise of caution when making judgements under conditions of uncertainty. The exercise of prudence means that assets and income are not overstated and liabilities and expenses are not understated. Equally, the exercise of prudence does not allow for …

The process of capturing for inclusion in the statement of financial position or the statement(s) of financial performance an item that meets the definition of one of the elements of financial statements—an asset, a liability, equity, income or expenses. …

An entity that is required, or chooses, to prepare general purpose financial statements.   CF.3.10 …

Financial statements of a reporting entity that is the parent alone.   CF.3.11 …

The right or the group of rights, the obligation or the group of obligations, or the group of rights and obligations, to which recognition criteria and measurement concepts are applied.   …

The beginning of the earliest period for which an entity presents full comparative information under Australian Accounting Standards in its first Australian-Accounting-Standards financial statements …