Accountancy

Accountancy

Industry: Financial services

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Accountancy

Impairment loss

Financial services; Accountancy

The amount by which the carrying amount of an asset exceeds its recoverable amount.

Impracticable

Financial services; Accountancy

Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so.

The more clearly determinable of either: (a) the prevailing rate for a similar instrument of an issuer with a similar credit rating; or (b) a rate of interest that discounts the nominal amount of the ...

Inception of a lease

Financial services; Accountancy

The earlier of the date of the lease agreement and the date of commitment by the parties to the principal provisions of the lease.

Income

Financial services; Accountancy

The amount of money or its equivalent received during a period of time in exchange for labour or services, from the sale of goods or property, or as profit from financial investments

Incremental borrowing rate of interest (lessee’s)

Financial services; Accountancy

The rate of interest the lessee would have to pay on a similar lease or, if that is not determinable, the rate that, at the inception of the lease, the lessee would incur to borrow over a similar ...

Indirect method of reporting cash flows from operatingactivities

Financial services; Accountancy

A method whereby profit or loss is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments, and items of income ...