Search Definitions

An asset (other than goodwill) to which the operator has the right of access to provide public services on behalf of the grantor in a service concession arrangement that: (a) the operator constructs, develops, upgrades or replaces major components, or …

Government refers to government, government agencies and similar bodies whether local, national or international. …

Government assistance is action by government designed to provide an economic benefit specific to an entity or range of entities qualifying under certain criteria. Government assistance for the purpose of this Standard does not include benefits provided …

Government grants are assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity. They exclude those forms of government …

Grants related to assets are government grants whose primary condition is that an entity qualifying for them should purchase, construct or otherwise acquire long-term assets. Subsidiary conditions may also be attached restricting the type or location of …

Grants related to income are government grants other than those related to assets. …

Forgivable loans are loans which the lender undertakes to waive repayment of under certain prescribed conditions. …

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 …

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