Accountancy

Accountancy

Industry: Financial services

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Accountancy

joint control

Financial services; Accountancy

The contractually agreed sharing of control over an economic activity.

jointly controlled entity

Financial services; Accountancy

A joint venture that involves the establishment of a corporation, partnership or other entity in which each venturer has an interest. The entity operates in the same way as other entities, except ...

presentation currency

Financial services; Accountancy

The currency in which the financial statements are presented.

primary financial instruments

Financial services; Accountancy

Financial instruments such as receivables, payables and equity securities, that are not derivative financial instruments.

present value

Financial services; Accountancy

A current estimate of the present discounted value of the future net cash flows in the normal course of business.

Omissions from, and misstatements in, the entity’s financial statements for one or more prior periods arising from a failure to use, or misuse of, reliable information that: (a) was available when ...

probable profit

Financial services; Accountancy

More likely than not. IFRS 5.A, The residual amount that remains after expenses (including capital maintenance adjustments, where appropriate) have been deducted from income. Any amount over and ...