431 definitions found
AASB 119
Definition
8[14]
Plan assets comprise: (a) assets held by a long-term employee benefit fund; and (b) qualifying insurance policies. …
AASB 119
Definition
8[15]
Assets held by a long-term employee benefit fund are assets (other than non-transferable financial instruments issued by the reporting entity) that: (a) are held by an entity (a fund) that is legally separate from the reporting entity and exists solely to …
AASB 119
Definition
8[16]
A qualifying insurance policy is an insurance policy [1] issued by an insurer that is not a related party (as defined in AASB 124 Related Party Disclosures ) of the reporting entity, if the proceeds of the policy: (a) can be used only to pay or fund …
AASB 119
Definition
8[17]
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See AASB 13 Fair Value Measurement …
AASB 119
Definition
8[18]
Service cost comprises: (a) current service cost , which is the increase in the present value of the defined benefit obligation resulting from employee service in the current period; (b) past service cost , which is the change in the present value of the …
AASB 119
Definition
8[19]
Net interest on the net defined benefit liability (asset) is the change during the period in the net defined benefit liability (asset) that arises from the passage of …
AASB 15
Definition
A[1]
An agreement between two or more parties that creates enforceable rights and obligations. …
AASB 15
Definition
A[2]
An entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time (for example, the entity’s future …
AASB 15
Definition
A[3]
An entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the …