The fair value of an asset is the price that would be received to sell an asset in an orderly...

A measurement or recognition inconsistency that arises from using different measurement models for asset or liability values or different recognition...

An asset (typically a financial asset/ intangible asset) that is subject to an amortization scheme whereby its amortized cost is...

An asset (typically a financial asset/ intangible asset) that is subject to an amortization scheme whereby its amortized cost is...

The monetary amount at which a financial asset or financial liability is measured at the time it is first recognized...

It stands for arm's length principle; a market standard that assumes a normal transaction to be one which is entered...

A market standard that assumes a normal transaction to be one which is entered into by and between two unrelated...

A transaction which is entered into by and between two unrelated and well-informed parties, that is, those who have no...

The systematic process of allocating the amortized amount/ amortized cost (the principal) of a financial asset (broadly any intangible asset)...

It stands for actual cost; broadly speaking, it is the exact amount of expense that is incurred in connection with...