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Reports that provide financial information about a reporting entity that is useful to primary users in making decisions relating to providing resources to the entity. Those decisions involve decisions about:  (a) buying, selling or holding equity and debt …

Applying a requirement is impracticable when an entity cannot apply it after making every reasonable effort to do so. …

Existing and potential investors, lenders and other creditors. …

The full range of interactions, resources and relationships related to a reporting entity’s business model and the external environment in which it operates. A value chain encompasses the interactions, resources and relationships an entity uses and …

Notwithstanding the general definitions in the above table, in respect of not-for-profit entities the following terms are described in the Framework for the Preparation and Presentation of Financial Statements (as amended to March 2020) and are used in …

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

Accounting policies are defined in paragraph 5 of AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors , and the term is used in this Standard with the same …

General purpose financial statements (referred to as ‘financial statements’) are those intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information …

Impracticable Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so. …

International Financial Reporting Standards (IFRSs) are Standards and Interpretations issued by the International Accounting Standards Board (IASB). They comprise: (a)             International Financial Reporting Standards; (b)             International …