392 definitions found
AASB 102
Definition
6[3]
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 …
AASB 102
Definition
Aus6.1
The following terms are also used in this Standard with the meanings specified. …
AASB 102
Definition
Aus6.1[1]
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. …
AASB 102
Definition
Aus6.1[3]
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 …
AASB 102
Definition
Aus6.1[2]
In respect of not-for-profit entities, current replacement cost is the cost the entity would incur to acquire the asset at the end of the reporting …
AASB 17
Definition
A[1]
A component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit the entity will recognise as it provides insurance contract services under the insurance contracts in the …
AASB 17
Definition
A[2]
The period during which the entity provides insurance contract services . This period includes the insurance contract services that relate to all premiums within the boundary of the insurance contract …
AASB 17
Definition
A[3]
A difference between: (a) for premium receipts (and any related cash flows such as insurance acquisition cash flows and insurance premium taxes) – the estimate at the beginning of the period of the amounts expected in the period and the actual …
AASB 17
Definition
A[4]
The risk of a possible future change in one or more of a specified interest rate, financial instrument price, commodity price, currency exchange rate, index of prices or rates, credit rating or credit index or other variable, provided in the case of a …
AASB 17
Definition
A[5]
An explicit, unbiased and probability-weighted estimate (ie expected value) of the present value of the future cash outflows minus the present value of the future cash inflows that will arise as the entity fulfils insurance contracts , including a risk …