439 definitions found
AASB 116
Definition
6[5]
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. …
AASB 116
Definition
6[6]
Entity-specific value is the present value of the cash flows an entity expects to arise from the continuing use of an asset and from its disposal at the end of its useful life or expects to incur when settling a …
AASB 116
Definition
6[7]
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 …
AASB 116
Definition
6[8]
An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. …
AASB 116
Definition
6[9]
Property, plant and equipment are tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than …
AASB 116
Definition
6[10]
Recoverable amount is the higher of an asset’s fair value less costs of disposal and its value in use. …
AASB 116
Definition
6[11]
The residual value of an asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its …
AASB 116
Definition
6[12]
Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …
AASB 116
Definition
Aus6.1
The following term is also used in this Standard with the meaning specified. A not-for-profit entity is an entity whose principal objective is not the generation of profit. A not-for-profit entity can be a single entity or a group of entities comprising …