Search Definitions

[Deleted by the AASB] …

In respect of public sector entities, local governments , governments and most, if not all, government departments are reporting entities: …

government means the Australian Government, the Government of the Australian Capital Territory, New South Wales, the Northern Territory, Queensland, South Australia, Tasmania, Victoria or Western …

government department means a government controlled entity, created pursuant to administrative arrangements or otherwise designated as a government department by the government which controls …

local government means an entity comprising all entities controlled by a governing body elected or appointed pursuant to a Local Government Act or similar …

The date on which a lessor makes an underlying asset available for use by a lessee . …

Either the period over which an asset is expected to be economically usable by one or more users or the number of production or similar units expected to be obtained from an asset by one or more …

The date when both parties agree to a lease modification . …

For the purpose of applying the lessor accounting requirements in this Standard, the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length …

A lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset . …