Search Definitions

Bank borrowings are generally considered to be financing activities. However, in some countries, bank overdrafts which are repayable on demand form an integral part of an entity’s cash management. In these circumstances, bank overdrafts are included as a …

Cash flows exclude movements between items that constitute cash or cash equivalents because these components are part of the cash management of an entity rather than part of its operating, investing and financing activities. Cash management includes the …

Exploration and evaluation expenditures recognised as assets in accordance with the entity’s accounting policy. …

An agreement between two or more parties that creates enforceable rights and obligations. …

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 …

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 …

A party that has contracted with an entity to obtain goods or services that are an output of the entity’s ordinary activities in exchange for …

Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity …

A promise in a contract with a customer to transfer to the customer either: (a)             a good or service (or a bundle of goods or services) that is distinct; or (b)             a series of distinct goods or services that are substantially the same …

Income arising in the course of an entity’s ordinary activities. …