21 Terms
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Accountancy
Industry: Financial services
Add a new termContributors in Accountancy
Accountancy
funding (of post-employment benefits)
Financial services; Accountancy
Contributions by an entity, and sometimes its employees, into an entity, or fund, that is legally separate from the reporting entity and from which the employee benefits are paid.
funding (of retirement benefits)
Financial services; Accountancy
The transfer of assets to an entity (the fund) separate from the employer’s entity to meet future obligations for the payment of retirement benefits.
future economic benefit
Financial services; Accountancy
The potential to contribute, directly or indirectly, to the flow of cash and cash equivalents to the entity. The potential may be a productive one that is part of the operating activities of the ...
gains
Financial services; Accountancy
Increases in economic benefits and as such no different in nature from revenue.
general purpose financial statements
Financial services; Accountancy
Financial statements that are intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs.
going concern
Financial services; Accountancy
The financial statements are prepared on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.
goodwill
Financial services; Accountancy
An asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised.
