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Fair Value Through Profit and Loss

A method of measuring financial assets/ financial liabilities whereby changes in fair value (for those items measured at fair value)...

FVTPL

It stands for fair value through profit and loss; a method of measuring financial assets/ financial liabilities whereby changes in...

Contingency Reserve

A type of reserve that is set aside (out of retained earnings) as a cushion against possible future losses, foreseen...

GPFS

It stands for general-purpose financial statement; a set of financial statements that is prepared and issued throughout a reporting period...

General-Purpose Financial Statement

A set of financial statements that is prepared and issued throughout a reporting period year to provide general financial information...

Goodwill Impairment Test

An impairment test for goodwill with indefinite useful life. This test is typically carried out on an annual basis, by...

Goodwill Impairment

The loss in goodwill that may result from a host of internal and external sources. In accounting, this is recorded...

Goodwill Impairment Loss

The loss in an entity's goodwill that occurs when the carrying value of the net assets of the entity or...

Fair Value Less Cost To Sell

A type of net recoverable amount where the value of an asset is defined as the difference between its fair...

FVLCTS

It stands for fair value less cost to sell; it is a type of net recoverable amount where the value...