The elements relating to the financial position of an entity/ business are the main element headings that make up the...

The process whereby an entity determines the monetary amounts at which the various elements of its financial statements (assets, liabilities,...

A present obligation of an entity towards others (creditors, investors, and other stakeholders), that arises from a past transaction/ event,...

A resource that is controlled by a business (entity) as a result of a past transaction/ event and is expected...

It stands for fair value; the price / exchange price (an amount measured in currency units- CUs) at which an...

The price / exchange price (an amount measured in currency units- CUs) at which an asset could be exchanged in...

The carrying amount of an asset or liability at a given point in time, netted against the amount of the...

It stands for gross carrying amount; the amortized cost of an asset, before adjusting for any loss allowance (without deduction...

The amortized cost of an asset, before adjusting for any loss allowance (without deduction for expected credit losses/ ECL). Revaluation...

It stands for value in use;  the net present value (NPV) of economic benefits / cash flows (inflows and outflows),...