Search Definitions

An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. …

An intangible asset is an identifiable non-monetary asset without physical substance. …

Monetary assets are money held and assets to be received in fixed or determinable amounts of money. …

Research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. …

The residual value of an intangible asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the …

Useful life is: (a) the period over which an asset is expected to be available for use by an entity; or (b) the number of production or similar units expected to be obtained from the asset by an …

An operating segment is a component of an entity: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity), (b) whose …

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 …

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 …

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 …