tax base of an asset or liability
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
The amount attributed to that asset or liability for tax purposes.
Label(s)
tax expense (tax income)
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
The aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax. Tax expense (tax income) comprises current tax expense (current tax income) and deferred tax expense (deferred tax income).
Label(s)
taxable profit (tax loss)
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
The profit (loss) for a period, determined in accordance with the rules established by the taxation authorities, upon which income taxes are payable (recoverable).
Label(s)
taxable temporary differences
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
Temporary differences that will result in taxable amounts in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled.
Label(s)
temporary differences
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
Differences between the carrying amount of an asset or liability in the statement of financial position and its tax base. Temporary differences may be either:
(a) taxable temporary differences; or (b) deductible temporary differences.
Label(s)
termination benefits
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
Employee benefits payable as a result of either: (a) an entity’s decision to terminate an employee’s employment before the normal retirement date; or (b) an employee’s decision to accept voluntary redundancy in exchange for those benefits.
Label(s)
total comprehensive income
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
The change in equity during a period resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.
Label(s)
transaction costs (financial instruments)
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
Incremental costs that are directly attributable to the acquisition, issue or disposal of a financial asset or financial liability (see IAS 39 paragraph AG13). An incremental cost is one that would not have been incurred if the entity had not acquired, issued or disposed of the financial instrument.
Label(s)
treasury shares
Created Sep 18, 2024 (06:11)
by Kee, Benard
Definition
An entity’s own equity instruments, held by the entity or other members of the consolidated group.
