Search Definitions

An insurance contract , or a financial instrument with a discretionary participation feature , regulated under the Life Insurance Act 1995 , and similar contracts issued by entities operating outside …

For the purpose of this Standard, income from a structured entity includes, but is not limited to, recurring and non-recurring fees, interest, dividends, gains or losses on the remeasurement or derecognition of interests in structured entities and gains …

For the purpose of this Standard, an interest in another entity refers to contractual and non-contractual involvement that exposes an entity to variability of returns from the performance of the other entity. An interest in another entity can be evidenced …

An entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of …

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

A bearer plant is a living plant that: (a)             is used in the production or supply of agricultural produce; (b)             is expected to bear produce for more than one period; and (c)              has a remote likelihood of being sold as …

Carrying amount is the amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment …

Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised …

Depreciable amount is the cost of an asset, or other amount substituted for cost, less its residual value. …

Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. …