Search Definitions

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This appendix is an integral part of AASB 1053. The following terms have the meanings specified: …

General purpose financial statements are those intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information …

Public accountability – an entity has public accountability if: (a) its debt or equity instruments are traded in a public market or it is in the process of issuing such instruments for trading in a public market (a domestic or foreign stock exchange or an …

The following defined terms are extracted or derived from the relevant paragraphs of the Conceptual Framework for Financial Reporting …

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

A present economic resource controlled by the entity as a result of past events.   CF.4.3 …

The amount at which an asset, a liability or equity is recognised in the statement of financial position.   CF.5.1 …

The sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for presentation and disclosure purposes.   …

Financial statements of a reporting entity that comprises two or more entities that are not all linked by a parent-subsidiary relationship.   …