Accrual Basis of Accounting (IAS 1): The accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.

Actuarial Gains and Losses (IAS 19): The adjustments for differences between the previous actuarial assumptions and what has actually occurred, or changes in actuarial assumptions themselves.

Benchmarking (IAS 8): The practice of comparing business processes and performance metrics to industry bests or best practices from other companies to improve performance.

Biological Assets (IAS 41): Living animals or plants that are used in the production or supply of agricultural produce, are expected to be sold, or are to be harvested as agricultural produce.

Biological Transformation (IAS 41): Changes in biological assets (living plants and animals) due to growth, degeneration, production, and procreation that are measured and recognized in accounting.

Borrowing Costs (IAS 23): Interest and other costs incurred by an entity in connection with the borrowing of funds.

Carrying Amount (IAS 16): The amount at which an asset is recognized in the balance sheet after deducting any accumulated depreciation and impairment losses.

Consolidated Financial Statements (IAS 27): Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as those of a single economic entity.

Contingent Liability (IAS 37): A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity.

Deferred Tax (IAS 12): Tax that is accounted for in respect of timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation.

Deferred Tax Assets (IAS 12): The amounts of income taxes recoverable in future periods in respect of deductible temporary differences, the carryforward of unused tax losses, and the carryforward of unused tax credits.

Depreciation (IAS 16): The systematic allocation of the depreciable amount of an asset over its useful life.

Disclosure Requirements (IAS 1): Requirements that specify the information that must be included in financial statements to ensure clarity, relevance, and comparability across reporting periods and entities.

Earnings Per Share (IAS 33): A measure of the portion of a company’s profit allocated to each outstanding share of common stock, serving as an indicator of a company’s profitability.

Equity Method (IAS 28): An accounting technique used in consolidating accounts where an investment is initially recorded at cost and adjusted thereafter for the post-acquisition change in the investor’s share of net assets of the investee.

Exchange Differences (IAS 21): Results from translating a foreign operation’s financial statements from its functional currency into a different presentation currency.

Exchange Rate Effect (IAS 21): The effect on financial statements of a change in the exchange rate used to convert foreign currency amounts into the reporting currency.

Expense Recognition (IAS 1): The process involving the determination of the timing and amount of expenses to be recognized in the financial statement.

Fair Value (IAS 13): The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Gains and Losses (IAS 1): Increases in economic benefits and decreases in economic benefits that are accounted for in the statement of profit and loss during the period.

Going Concern (IAS 1): An accounting principle that denotes a company’s ability to continue operations for the foreseeable future.

Government Assistance (IAS 20): The economic benefits provided by the government to entities in the form of transfers of resources in return for past or future compliance with certain conditions relating to the operating activities of the entity.

Government Grants (IAS 20): Assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions.

Gross Investment in the Lease (IAS 17): The aggregate of the minimum lease payments and any unguaranteed residual value accruing to the lessor.

Hedge Accounting (IAS 39): A method of accounting where entries for the ownership of a security and the opposing hedge are treated as one. Hedge accounting attempts to reduce the volatility created by the repeated adjustment to a financial instrument’s value.

Historical Cost (IAS 2): The original monetary value of an economic item. Historical cost is based on the stable measuring unit assumption.

Hyperinflation (IAS 29): An extreme or excessive inflationary environment where the general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency, and prices may increase rapidly in a short period of time.

Impairment Loss (IAS 36): The amount by which the carrying amount of an asset exceeds its recoverable amount.

Impairment of Assets (IAS 36): The process of evaluating the carrying amount of an asset to determine whether it is in excess of its recoverable amount, which is the higher of fair value less costs to sell and its value in use.

Impairment Test (IAS 36): A test that is carried out when there are indications that an asset may be impaired, to determine whether the asset’s carrying amount exceeds its recoverable amount.

Intangible Asset (IAS 38): An identifiable non-monetary asset without physical substance, which is held for use in the production or supply of goods or services, for rental to others, or for administrative purposes.

Joint Control (IAS 31): The contractually agreed sharing of control over an economic activity, and exists only when the strategic financial and operating decisions relating to the activity require the unanimous consent of the parties sharing control.

Joint Venture (IAS 31): A contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control.

Jointly Controlled Entities (IAS 31): A joint venture that involves the establishment of a corporation, partnership, or other entity in which each venturer has an interest.

Key Audit Matters (IAS 1): Those matters that, in the auditor’s professional judgment, were of most significance in the audit of the financial statements of the current period.

Key Management Personnel (IAS 24): Those persons having authority and responsibility for planning, directing, and controlling the activities of an entity, directly or indirectly.

Lease (IAS 17): An agreement wherein the lessor conveys to the lessee, in return for a payment or series of payments, the right to use an asset for an agreed period of time.

Lease Incentives (IAS 17): Payments made by a lessor to or on behalf of a lessee, or losses incurred by a lessor associated with a lease.

Liabilities (IAS 37): Present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.

Materiality (IAS 1): The threshold above which missing or incorrect information in financial statements is considered to have the potential to influence the economic decisions of users.

Measurement Base (IASB Framework): The method used to determine the amount at which an item is recognized in the financial statements.

Measurement Uncertainty (IAS 1): The uncertainty about the measurement of recognition of assets, liabilities, income, and expenses.

Net Realizable Value (IAS 2): The estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

Non-current Assets (IAS 1): Assets that are expected not to be converted into cash within the next business cycle or year but are used long-term and depreciated over their useful life.

Non-monetary Assets (IAS 38): Assets that are not monetary such as physical assets and intangible assets.

Operating Activities (IAS 7): Principal revenue-producing activities of the entity and other activities that are not investing or financing activities.

Operating Cycle (IAS 1): The time between the acquisition of assets for processing and their realization in cash or cash equivalents.

Operating Lease (IAS 17): A lease other than a finance lease where the lessor retains substantially all the risks and rewards of ownership of the leased asset.

Operating Segment (IAS 14): A component of an entity that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the entity’s other components.

Presentation of Financial Statements (IAS 1): Standards for the presentation of financial statements, covering their structure, the minimum requirements for their content, and overriding concepts such as going concern, the accrual basis of accounting, and the current/noncurrent distinction.

Property, Plant, and Equipment (IAS 16): Tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes, and are expected to be used during more than one period.

Provisions (IAS 37): Liabilities of uncertain timing or amount.

Qualifying Assets (IAS 23): Assets that necessarily take a substantial period of time to get ready for their intended use or sale.

Qualitative Characteristics of Useful Financial Information (IASB Framework): The attributes that make the information provided in financial statements useful to users, including relevance and faithful representation.

Recoverable Amount (IAS 36): The higher of an asset’s fair value less costs of disposal and its value in use.

Related Party Disclosures (IAS 24): Requirements to disclose the nature of the related party relationships as well as information about the transactions and outstanding balances necessary for an understanding of the potential impact of the relationship on the financial statements.

Related Party Transaction (IAS 24): A transfer of resources, services, or obligations between related parties, regardless of whether a price is charged.

Revaluation Model (IAS 16): A model in which an asset is carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

Revenue Recognition (IAS 18): The criteria that must be met for revenue to be recognized within the framework of the accrual basis of accounting.

Segment Reporting (IAS 14): The reporting of the financial information of a business’s different segments to evaluate each segment’s performance and to better assess the risks and returns of each segment.

Substance over Form (IASB Framework): The principle that the economic substance of transactions, not merely their legal form, be reflected in accounting.

Tax Base (IAS 12): The amount attributed to an asset or liability for tax purposes and used in the calculation of taxable profit (tax loss).

Useful Life (IAS 16): The period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset.

Useful Life (IAS 38): Either: (a) the period of time over which an asset is expected to be available for use by an entity, or (b) the number of production or similar units expected to be obtained from the asset by the entity.

Valuation Technique (IAS 13): An approach to measuring fair value when market values are not readily available.

Venture Capital Valuation (IAS 28): The process of valuing investments in conditions of high uncertainty, typically pertaining to early-stage companies, using methodologies like cost method, equity method, or consolidation, depending on the level of control or influence.

Warranty Obligations (IAS 37): Liabilities incurred by an entity when it sells a product and the entity agrees to provide warranty services.

Write-down (IAS 2): Reducing the book value of an asset because it is overvalued compared to the market value.

Yield (IAS 39): The income return on an investment, such as the interest or dividends received, as it relates to security price.

Yield to Maturity (IAS 39): The rate of return anticipated on a bond if it is held until the maturity date, considered in the valuation of bonds.

Zero-Coupon Bond (IAS 39): A bond issued at a discount to its face value which does not pay periodic interest, or coupon payments, during its life but pays the principal amount at maturity.

Zero Coupon Bond Valuation (IAS 39): The valuation of bonds that do not make periodic interest payments, or coupon payments, during their lifetime.