Accountancy

Accountancy

Industry: Financial services

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Accountancy

Future economic benefit

Financial services; Accountancy

The potential to contribute, directly or indirectly, to the flow of cash and cash equivalents to the entity. The potential may be a productive one that is part of the operating activities of the ...

Gains

Financial services; Accountancy

Increases in economic benefits and as such no different in nature from revenue.

General purpose financial statements

Financial services; Accountancy

Financial statements that are intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs.

Going concern

Financial services; Accountancy

The financial statements are prepared on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.

Goodwill

Financial services; Accountancy

An asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised.