Search Definitions

Entity-specific value is the present value of the cash flows an entity expects to arise from the continuing use of an asset and from its disposal at the end of its useful life or expects to incur when settling a …

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 …

An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. …

An intangible asset is an identifiable non-monetary asset without physical substance. …

Monetary assets are money held and assets to be received in fixed or determinable amounts of money. …

Research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. …

The residual value of an intangible asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the …

Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …

In this Standard: …

attachment date means, for a direct insurer, the date as from which the insurer accepts risk from the insured under an insurance contract or endorsement or, for a reinsurer, the date from which the reinsurer accepts risk from the direct insurer or another …