Search Definitions

Government grants are assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity. They exclude those forms of government …

Grants related to assets are government grants whose primary condition is that an entity qualifying for them should purchase, construct or otherwise acquire long-term assets. Subsidiary conditions may also be attached restricting the type or location of …

Grants related to income are government grants other than those related to assets. …

Forgivable loans are loans which the lender undertakes to waive repayment of under certain prescribed conditions. …

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 used in this Standard with the meanings specified: …

Closing rate is the spot exchange rate at the end of the reporting period. …

Exchange difference is the difference resulting from translating a given number of units of one currency into another currency at different exchange …

Exchange rate is the ratio of exchange for two currencies. …

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 …