467 definitions found
AASB 116
Definition
6[8]
An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. …
AASB 116
Definition
6[9]
Property, plant and equipment are tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than …
AASB 116
Definition
6[10]
Recoverable amount is the higher of an asset’s fair value less costs of disposal and its value in use. …
AASB 116
Definition
6[11]
The residual value of an asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its …
AASB 116
Definition
6[12]
Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …
Conceptual Framework
Definition
[1]
The following defined terms are extracted or derived from the relevant paragraphs of the Conceptual Framework for Financial Reporting …
Conceptual Framework
Definition
[1]
The adding together of assets, liabilities, equity, income or expenses that have shared characteristics and are included in the same classification. …
Conceptual Framework
Definition
[2]
A present economic resource controlled by the entity as a result of past events. CF.4.3 …
Conceptual Framework
Definition
[3]
The amount at which an asset, a liability or equity is recognised in the statement of financial position. CF.5.1 …
Conceptual Framework
Definition
[4]
The sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for presentation and disclosure purposes. …