9 Terms
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Accountancy
Industry: Financial services
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Accountancy
substance over form
Financial services; Accountancy
The principle that transactions and other events are accounted for and presented in accordance with their substance and economic reality and not merely their legal form.
tax expense (tax income)
Financial services; Accountancy
The aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax. Tax expense (tax income) comprises current tax expense (current tax ...
measurement date
Financial services; Accountancy
The date at which the fair value of the equity instruments granted is measured for the purposes of IFRS 2. For transactions with employees and others providing similar services, the measurement date ...
measurement
Financial services; Accountancy
The process of determining the monetary amounts at which the elements of the financial statements are to be recognised and carried in the balance sheet [statement of financial position] and income ...
monetary items
Financial services; Accountancy
Units of currency held and assets and liabilities to be received or paid in a fixed or determinable number of units of currency.
minimum lease payments
Financial services; Accountancy
The payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by and reimbursed to the lessor, together with: (a) ...
mutual entity
Financial services; Accountancy
An entity, other than an investor-owned entity, that provides dividends, lower costs or other economic benefits directly to its owners, members or participants. For example, a mutual insurance ...
