372 definitions found
Conceptual Framework
Definition
[8]
The removal of all or part of a recognised asset or liability from an entity’s statement of financial position. CF.5.26 …
Conceptual Framework
Definition
[9]
A right that has the potential to produce economic benefits. CF.4.4 …
Conceptual Framework
Definition
[10]
A qualitative characteristic that makes useful information more useful. The enhancing qualitative characteristics are comparability, verifiability, timeliness and understandability. CF.2.4 , …
Conceptual Framework
Definition
[11]
The residual interest in the assets of the entity after deducting all its liabilities. CF.4.63 …
Conceptual Framework
Definition
[12]
A claim on the residual interest in the assets of the entity after deducting all its liabilities. CF.4.64 …
Conceptual Framework
Definition
[13]
A contract, or a portion of a contract, that is equally unperformed—neither party has fulfilled any of its obligations, or both parties have partially fulfilled their obligations to an equal extent. …
Conceptual Framework
Definition
[14]
Uncertainty about whether an asset or liability exists. CF.4.13 , CF.4.35 …
Conceptual Framework
Definition
[15]
Decreases in assets, or increases in liabilities, that result in decreases in equity, other than those relating to distributions to holders of equity claims. …
Conceptual Framework
Definition
[16]
A qualitative characteristic that financial information must possess to be useful to the primary users of general purpose financial reports. The fundamental qualitative characteristics are relevance and faithful representation. CF.2.4 , …
Conceptual Framework
Definition
[17]
A report that provides financial information about the reporting entity’s economic resources, claims against the entity and changes in those economic resources and claims that is useful to primary users in making decisions relating to providing resources …