Search Definitions

An identifiable non-monetary asset without physical substance. …

An entity, other than an investor-owned entity, that provides dividends, lower costs or other economic benefits directly to its owners , members or participants. For example, a mutual insurance company, a credit union and a co-operative entity are all …

The equity in a subsidiary not attributable, directly or indirectly, to a parent. …

For the purposes of this Standard, owners is used broadly to include holders of equity interests of investor-owned entities and owners or members of, or participants in, mutual entities …

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

Inventories are assets: (a) held for sale in the ordinary course of business; (b) in the process of production for such sale; or (c) in the form of materials or supplies to be consumed in the production process or in the rendering of …

Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the …

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 Fair Value Measurement …

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

A not-for-profit entity is an entity whose principal objective is not the generation of profit.  A not-for-profit entity can be a single entity or a group of entities comprising the parent entity and each of the entities that it controls. …