Search Definitions

The receipt of government assistance by an entity may be significant for the preparation of the financial statements for two reasons. Firstly, if resources have been transferred, an appropriate method of accounting for the transfer must be found. …

Government grants are sometimes called by other names such as subsidies, subventions, or premiums. …

This Standard uses the following terms with the meanings specified: …

Borrowing costs may include: (a) interest expense calculated using the effective interest method as described in AASB 9 ; (b) [deleted] (c) [deleted] (d) interest in respect of lease liabilities recognised in accordance with AASB 16 Leases ; and (e) …

Depending on the circumstances, any of the following may be qualifying assets: (a) inventories (b) manufacturing plants (c) power generation facilities (d) intangible assets (e) investment properties (f) bearer plants. Financial assets, and inventories …

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

A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’). (a) A person or a close member of that person’s family is related to a reporting …

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 …