Search Definitions

A related party transaction is a transfer of resources, services or obligations between a reporting entity and a related party, regardless of whether a price is …

Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity and include: (a) that person’s children and spouse or domestic partner; (b) children of …

Compensation includes all employee benefits (as defined in AASB 119 Employee Benefits ) including employee benefits to which AASB 2 Share-based Payment applies. Employee benefits are all forms of consideration paid, payable or provided by the entity, or …

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that …

Government refers to government, government agencies and similar bodies whether local, national or international. …

A government-related entity is an entity that is controlled, jointly controlled or significantly influenced by a government. …

The terms ‘control’ and ‘investment entity’, ‘joint control’ and ‘significant influence’ are defined in AASB 10 Consolidated Financial Statements , AASB 11 Joint Arrangements and AASB 128 Investments in Associates and Joint Ventures respectively and are …

The portion of lifetime expected credit losses that represent the expected credit losses that result from default events on a financial instrument that are possible within the 12 months after the reporting …

The amount at which the financial asset or financial liability is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between that initial amount …

Those rights that AASB 15 Revenue from Contracts with Customers specifies are accounted for in accordance with this Standard for the purposes of recognising and measuring impairment gains or …