Search Definitions

For the purpose of this Standard, relevant activities are activities of the investee that significantly affect the investee’s returns. …

Rights to deprive the decision maker of its decision-making authority. …

An entity that is controlled by another entity. …

The following terms are defined in AASB 11 , AASB 12 Disclosure of Interests in Other Entities , AASB 128 or AASB 124 Related Party Disclosures and are used in this Standard with the meanings specified in those Standards: associate interest in another …

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 …

Material is defined in paragraph 7 of AASB 101 and is used in this Standard with the same meaning. …

Prior period errors are omissions from, and misstatements in, the entity’s financial statements for one or more prior periods arising from a failure to use, or misuse of, reliable information that: (a) was available when financial statements for those …

Retrospective application is applying a new accounting policy to transactions, other events and conditions as if that policy had always been …

Retrospective restatement is correcting the recognition, measurement and disclosure of amounts of elements of financial statements as if a prior period error had never …