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reinsurer means the party that has an obligation under a reinsurance contract to compensate a cedant if an insured event occurs …

separate financial statements are those presented by a parent, an investor in an associate or a venturer in a joint venture, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported …

unbundle means to treat the components of a contract as if they were separate contracts …

weather derivative means a contract that requires payment based on climatic, geological or other physical variables …

Exploration and evaluation expenditures recognised as assets in accordance with the entity’s accounting policy. …

For the purposes of this Statement: …

“control” means the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in achieving the objectives of the …

“economic entity” means a group of entities comprising a controlling entity and one or more controlled entities operating together to achieve objectives consistent with those of the controlling …

Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial …

A change in accounting estimate is an adjustment of the carrying amount of an asset or a liability, or the amount of the periodic consumption of an asset, that results from the assessment of the present status of, and expected future benefits and …