300 definitions found
Conceptual Framework
Definition
[28]
Existing and potential investors, lenders and other creditors. CF.1.2 …
Conceptual Framework
Definition
[29]
The exercise of caution when making judgements under conditions of uncertainty. The exercise of prudence means that assets and income are not overstated and liabilities and expenses are not understated. Equally, the exercise of prudence does not allow for …
Conceptual Framework
Definition
[30]
The process of capturing for inclusion in the statement of financial position or the statement(s) of financial performance an item that meets the definition of one of the elements of financial statements—an asset, a liability, equity, income or expenses. …
Conceptual Framework
Definition
[31]
An entity that is required, or chooses, to prepare general purpose financial statements. CF.3.10 …
Conceptual Framework
Definition
[32]
Financial statements of a reporting entity that is the parent alone. CF.3.11 …
Conceptual Framework
Definition
[33]
The right or the group of rights, the obligation or the group of obligations, or the group of rights and obligations, to which recognition criteria and measurement concepts are applied. …
Conceptual Framework
Definition
[34]
Financial information that is useful to primary users of general purpose financial reports in making decisions relating to providing resources to the reporting entity. To be useful, financial information must be relevant and faithfully represent what it …
Conceptual Framework
Definition
[35]
See primary users (of general purpose financial reports). …
AASB 17
Definition
A[1]
A component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit the entity will recognise as it provides insurance contract services under the insurance contracts in the …