Search Definitions

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 …

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

A not-for-profit entity is an entity whose principal objective is not the generation of profit.  A not-for-profit entity can be a single entity or a group of entities comprising the parent entity and each of the entities that it controls. …

In respect of not-for-profit entities, inventories held for distribution are assets: (a) held for distribution at no or nominal consideration in the ordinary course of operations; (b) in the process of production for distribution at no or nominal …

An arrangement of which two or more parties have joint control . …

The contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing …

A joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the …

A party to a joint operation that has joint control of that joint operation. …

A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. …

A party to a joint venture that has joint control of that joint venture. …