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Impracticable Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so. For a particular prior period, it is impracticable to apply a change in an accounting policy retrospectively or to make a …

The following terms are used in this Standard with the meanings specified: …

A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’). (a) A person or a close member of that person’s family is related to a reporting …

A related party transaction is a transfer of resources, services or obligations between a reporting entity and a related party, regardless of whether a price is …

Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity and include: (a) that person’s children and spouse or domestic partner; (b) children of …

Compensation includes all employee benefits (as defined in AASB 119 Employee Benefits ) including employee benefits to which AASB 2 Share-based Payment applies. Employee benefits are all forms of consideration paid, payable or provided by the entity, or …

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of that …

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

A government-related entity is an entity that is controlled, jointly controlled or significantly influenced by a government. …

The following terms are also used in this Standard with the meaning specified. …