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Trade Date

The date that an entity commits itself to transact with a party. According to trade date accounting, a transaction is...

Non-Monetary Transaction

Broadly speaking, it is a transaction that involves the exchange of goods or services without the use of a medium...

Nonmonetary Transaction

Broadly speaking, it is a transaction that involves the exchange of goods or services without the use of a medium...

Useful Life of a Leased Asset

The useful life of a leased asset is either: the estimated remaining period, from the commencement date of the lease...

Nonmonetary Asset

An asset that is not a monetary asset. It is an asset that is not in a monetary form: it...

Non-Monetary Asset

An asset that is not a monetary asset. It is an asset that is not in a monetary form: it...

Monetary Asset

A type of financial asset that constitutes money (cash) held in, and assets whose value can be converted into, a...

Service Cost

In accounting, and in relation to the defined benefit obligations of an entity, service cost is the total cost an...

Settlement Date

Generally, it is the date a transaction is completed, i.e., the date that performance (the actual exchange: money vs asset...

Abandonment Value

The value of an asset or a group of assets or a project if the asset(s) or the project's assets...