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 individual geological area which is considered to constitute a favourable environment for the presence of a mineral deposit or an oil or natural gas field, or has been proved to contain such a deposit or …

The estimated quantity of product in an area of interest that can be expected to be profitably extracted, processed and sold under current and foreseeable economic …

An asset is a resource: (a) controlled by an entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. …

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

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

Expenditures incurred by an entity in connection with the exploration for and evaluation of mineral resources before the technical feasibility and commercial viability of extracting a mineral resource are …