Accountancy

Accountancy

Industry: Financial services

Add a new term

Contributors in Accountancy

Become a Contributors

Accountancy

First-time adopter

Financial services; Accountancy

An entity that presents its first IFRS financial statements.

Fixed price contract

Financial services; Accountancy

A construction contract in which the contractor agrees to a fixed contract price, or a fixed rate per unit of output, which in some cases is subject to cost escalation clauses.

The definition of a lease includes contracts for the hire of an asset that contain a provision giving the hirer an option to acquire title to the asset upon the fulfilment of agreed conditions. These ...

Highly probable

Financial services; Accountancy

Significantly more likely than probable.

Historical cost

Financial services; Accountancy

A measurement basis according to which assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their ...

Hyperinflation

Financial services; Accountancy

Loss of purchasing power of money at such a rate that comparison of amounts from transactions and other events that have occurred at different times, even within the same accounting period, is ...

Identifiable

Financial services; Accountancy

An asset is identifiable if it either: (a) is separable, ie capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either individually or together ...