An option that allows an entity to change its financial year (reporting year) to accommodate certain seasonality effects in business...

It stands for fair value option; an option or alternative for an entity to use fair value (FV) as a...

An option or alternative for an entity to use fair value (FV) as a basis for recording its financial assets/...

An entity, weather organized in a corporate form or otherwise, that is engaged in profit-making activities including commercial, industrial, financial,...

The currency that an entity uses to record and measure its transactions. A functional currency is used to present the...

It stands for foreign currency translation reserve; a type of reserve that is created to account for foreign currency translation...

A type of reserve that is created to account for foreign currency translation (currency translation). Such a translation involves the...

An accounting concept (or principle) that entails that an entity's financial statements shall be prepared and produced in a manner...

The operations of a reporting entity that are based in a foreign country or are denominated in a currency other...

It stands for fair presentation; an accounting standards' requirement that an entity's financial statements should be presented in a fair...