Search Definitions

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

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

A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of …

Corporate assets are assets other than goodwill that contribute to the future cash flows of both the cash-generating unit under review and other cash-generating …

Costs of disposal are incremental costs directly attributable to the disposal of an asset or cash-generating unit, excluding finance costs and income tax …

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

Depreciation (Amortisation) is the systematic allocation of the depreciable amount of an asset over its useful life. [1] …

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 …

An impairment loss is the amount by which the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount. …

The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs of disposal and its value in …