Accounting

Derivative

Definition of a derivative A derivative is a financial instrument or other contract within the scope of the IAS 39 with all three of the following characteristics: its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating […]

IAS 1 – Presentation of Financial Statements

Presentation of IAS 1 – Presentation of Financial Statements This Standard prescribes the basis for presentation of…

IFRS

International financial reporting standards (IFRSs) are standards and interpretations adopted by the International Accounting Standards Board (IASB). They comprise: (a) international financial reporting standards; (b) international accounting standards; and (c) interpretations originated by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC).

Impairment loss

An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. To determine whether an item of property, plant and equipment is impaired, an entity applies IAS 36 Impairment of assets. That standard explains how an entity reviews the carrying amount of its assets, how it determines the recoverable […]

Intangible asset

According to the International Accounting Standards, an intangible asset is an identifiable non-monetary asset without physical substance. The definition of an intangible asset requires an intangible asset to be identifiable to distinguish it from goodwill. Goodwill acquired in a business combination represents a payment made by the acquirer in anticipation of future economic benefits from […]

Inventories

Inventories are assets: held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services. Inventories encompass goods purchased and held for resale, including, for example, merchandise purchased by […]

Investment property

Investment property is property (land or a building — or part of a building — or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative […]

Net Result

Net Result Concept Net Result designates the residual result that the company detains on a certain period after deducted the gains (or profits) all expenses (or losses), either being expenses with merchandise purchases, materials and services, expenses with personnel, equipments attrition, funding financial costs, taxes, among others. The use given to the net result can […]

Revenue

According to the International Accounting Standards, revenue is the gross inflow of economic benefits during the period arising in the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. Revenue includes only the gross inflows of economic benefits received […]

Significant influence

According to the International Accounting Standards, significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. If an investor holds, directly or indirectly (e.g. through subsidiaries), 20 per cent or more of the voting power of the investee, it […]

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