Judgement In accounting, judgements (management judgement) represent conclusions are made by an entity’s management in applying accounting policies. A judgement...

Derivative financial instruments: concept A derivative financial instrument is a type of financial instrument that has financial securities (such as...

Fair value accounting estimates Fair value accounting estimates are accounting estimates made using a method of measurement prescribed by the...

Fair value accounting estimates Fair value accounting estimates are those accounting estimates made using a method of measurement prescribed by...

Written representations defined Written representations represent a written statement that is served by an entity’s management to its auditors with...

Concept of management bias Management bias is typically defined as a lack of neutrality by an entity’s management as to...

Concept of estimation uncertainty In the context of accounting estimates, estimation uncertainty refers to the susceptibility of the estimate and...

Non-routine accounting estimate: concept A non-routine accounting estimate is an accounting estimate that is not made on a routine basis...

Faithful representation Faithful representation is an accounting concept (or principle) that entails that an entity's financial statements shall be prepared...

An accounting estimate is a monetary amount for which the measurement of value is subject to estimation uncertainty, all in...