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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 …

Impracticable Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so. For a particular prior period, it is impracticable to apply a change in an accounting policy retrospectively or to make a …

Prospective application of a change in accounting policy and of recognising the effect of a change in an accounting estimate, respectively, are: (a) applying the new accounting policy to transactions, other events and conditions occurring after the date …

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The following terms are used in this Standard with the meanings specified: …

Closing rate is the spot exchange rate at the end of the reporting period. …

Exchange difference is the difference resulting from translating a given number of units of one currency into another currency at different exchange …