Search Definitions

An entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time (for example, the entity’s future …

An entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the …

A party that has contracted with an entity to obtain goods or services that are an output of the entity’s ordinary activities in exchange for …

Increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity …

A promise in a contract with a customer to transfer to the customer either: (a)             a good or service (or a bundle of goods or services) that is distinct; or (b)             a series of distinct goods or services that are substantially the same …

Income arising in the course of an entity’s ordinary activities. …

The price at which an entity would sell a promised good or service separately to a customer. …

The amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third …

A licence that has a term of 12 months or less. …

The adding together of assets, liabilities, equity, income or expenses that have shared characteristics and are included in the same classification.  …