A test for impairment is an assessment exercise carried out an entity to determine the possible existence of impairment losses...

Losses that reflect the expected or potential credit losses that may arise as to an entity's financial assets due to...

A provision that is created for impairment losses arising from loans, receivables, and similar types of extended credit. Impairment losses...

In general, initial recognition is the recognition of an item (e.g., asset, expense, etc.) that would occur if an entity...

An account that is not held in the name of a certain person (natural or legal person). Such an account...

A system of accounting in which both costing and financial transactions are recorded in the same set of books. In...

A system of accounting in which both costing and financial transactions are recorded in the same set of books. In...

A financial statement (forming part of a set of financial statements prepared and maintained by an entity) that displays an...

In accounting, misstatement may come in varying degrees, including mainly material misstatement and immaterial misstatement. Immaterial misstatement arises from the...

It stands for indirect non-controlling interest; a type of non-controlling interest (NCI) that entails that non-controlling shareholders will only get...