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, […]

IAS 1 – Presentation of Financial Statements

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


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).

Net realisable value

Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Net realisable value refers to the net amount that an entity expects to realise from the sale of inventory in the ordinary course of business. Fair […]

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 […]

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