Search Definitions

An agreement between two or more parties that creates enforceable rights and obligations. …

The period over which an asset is expected to be available for use by an entity; or the number of production or similar units expected to be obtained from an asset by an …

In respect of not-for-profit entities, current replacement cost is the cost the entity would incur to acquire the asset at the end of the reporting …

Future economic benefits that have been contributed to the entity by parties external to the entity, other than those which result in liabilities of the entity, that give rise to a financial interest in the net assets of the entity which: (a)           …

Economic benefits received or receivable by an entity, as determined by a court or other law enforcement body, as a consequence of a breach of a law or …

Tax credits that are not limited to the amount of a taxpayer’s tax liability for the period, because they are available to beneficiaries regardless of whether they pay …

Preferential provisions of the tax law that provide particular taxpayers with concessions that are not available to others.   Tax relief excludes payable tax credits …

The event that the government, legislature or other authority has determined will be subject to taxation. …

Economic benefits compulsorily paid or payable to public sector entities in accordance with laws and/or regulations established to provide income to the government.   Taxes exclude fines …