An illustrative or illustrative statement is a financial statement that prepared on the basis of specific assumptions and projections, rather...

A financial statement that prepared on the basis of specific assumptions and projections, rather than on actual past transactions/ events/...

A financial statement that prepared on the basis of specific assumptions and projections, rather than on actual past transactions/ events/...

Any financial instrument that confers on its holder a residual interest in the net assets of an entity (its assets...

A liability whose value is measured and stated in monetary terms (cash amounts). As such, it is a fixed obligation...

The loss in value that results from impairment. More specifically, it is the amount by which the carrying amount (book...

A financial asset is derecognized (removed from an entity's accounts/ financial statements) when the contractual rights to receive the cash...

Ii stands for below-the-line items; items of financial statements that have a financial impact, though not directly related to the...

It stands for framework; a collection of fundamental concepts for general purpose financial reporting that is developed and used by...

The level of standardization of accounting information (e.g., items of financial statements) that makes the financial statements of different entities...