Accounting Liquidity

Accounting Liquidity Concept The expression Accounting Liquidity designates the quickness or easiness with which the assets detained by an entity can be converted in payment method. For example, the current assets (products stocks, debts own by customers, etc.) are faster converted into payment methods than the fixed or tangible assets (facilities, equipments, etc.). The bigger […]

Agricultural activity

According to the International Accounting Standards, agricultural activity is the management by an entity of the biological transformation of biological assets for sale, into agricultural produce, or into additional biological assets. Agricultural activity covers a diverse range of activities; for example, raising livestock, forestry, annual or perennial cropping, cultivating orchards and plantations, floriculture, and aquaculture […]


Assets Concept: Assets is an accountancy concept that represents the group of all goods and rights, tangible or intangible, held by a certain individual or…

Balance Sheet

Balance Sheet Concept Balance sheet builds a representation board of the company’s heritage (group of values used by the economic unit in the pursuit of its activity) at a certain moment. Since the heritage is a group of heterogeneous values, there is the need to group them into homogeneous sets, (equipments, debts from others, debts […]


According to the International Accounting Standards, a Business is an integrated set of activities and assets conducted and managed for the purpose of providing: (a) a return to investors; or (b) lower costs or other economic benefits directly and proportionately to policyholders or participants. A business generally consists of inputs, processes applied to those inputs, […]

Business combinations

A business combination is the bringing together of separate entities or businesses into one reporting entity. The result of nearly all business combinations is that one entity, the acquirer, obtains control of one or more other businesses, the acquiree. If an entity obtains control of one or more other entities that are not businesses, the […]

Cash Flow Map

Cash Flow Map Concept: Cash Flow Map is a financial demonstration that presents a group of cash entries and exits (availabilities) in an entity…


Compensation includes all employee benefits (as defined in IAS 19 Employee benefits) including employee benefits to which IFRS 2 Share-based payment applies. Employee benefits are all forms of consideration paid, payable or provided by the entity, or on behalf of the entity, in exchange for services rendered to the entity. It also includes such consideration paid on […]

Construction contract

According to the International Accounting Standards, a construction contract is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use. A construction contract may be negotiated for the construction of […]

Contingent asset

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility […]

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