Search Definitions

The terms defined in AASB 13 , AASB 9 and AASB 132 are used in this Standard with the meanings specified in Appendix A of AASB 13 , Appendix A of AASB 9 and paragraph 11 of AASB 132 . AASB 13 , AASB 9 and AASB 132 define the following terms: • …

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

A firm commitment is a binding agreement for the exchange of a specified quantity of resources at a specified price on a specified future date or …

A forecast transaction is an uncommitted but anticipated future transaction. …

A hedging instrument is a designated derivative or (for a hedge of the risk of changes in foreign currency exchange rates only) a designated non-derivative financial asset or non-derivative financial liability whose fair value or cash flows are expected …

A hedged item is an asset, liability, firm commitment, highly probable forecast transaction or net investment in a foreign operation that (a) exposes the entity to risk of changes in fair value or future cash flows and (b) is designated as being hedged ( …

Hedge effectiveness is the degree to which changes in the fair value or cash flows of the hedged item that are attributable to a hedged risk are offset by changes in the fair value or cash flows of the hedging instrument (see Appendix A paragraphs …

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

Accounting profit is profit or loss for a period before deducting tax expense. …