The ability of financial information to be verified (verifiability) and applied to the benefit of users of financial statements, delivering...

It stands for event of default; an occurrence that allows a creditor (lender) to identify a debtor's (borrower's) unlikeliness to...

An occurrence that allows a creditor (lender) to identify a debtor's (borrower's) unlikeliness to timely pay (obligations: interest and principal),...

An occurrence that allows a creditor (lender) to identify a debtor's (borrower's) unlikeliness to timely pay (obligations: interest and principal),...

The needs of a wide range of users of an entity's financial statements (general purpose financial statements, GPFSs) to information,...

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

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

An accounting rule that an entity applies to govern specific classification and measurement considerations in all cases, excluding a substantiated...

A period of time during which an accounting/ audit firm has to maintain the rule of independence when a member...

The cost of an asset that is calculated on the basis of its current replacement cost. The current cost approach...