An event that creates a legal or constructive obligation that results in an entity having no realistic alternative to settling that obligation.

A duty or responsibility to act or perform in a certain way. Obligations may be legally enforceable as a consequence of a binding contract or statutory requirement. Obligations also arise, however, from normal business practice, custom and a desire to maintain good business relations or act in an equitable manner.

A contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.

The principal revenue-producing activities of an entity and other activities that are not investing or financing activities.

The time between the acquisition of assets for processing and their realisation in cash or cash equivalents.

An operating segment is a component of an entity:

• (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity),
• (b) whose operating results are regularly reviewed by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and
• (c) for which discrete financial information is available.

Financial instruments that give the holder the right to purchase ordinary shares.

Holders of ordinary shares.

An equity instrument that is subordinate to all other classes of equity instruments.

Items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs.

Employee benefits (other than post-employment benefits and termination benefits) which do not fall due wholly within twelve months after the end of the period in which the employees render the related service.

The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer, or factors affecting all similar financial instruments traded in the market.

Holders of instruments classified as equity.

In IFRS 3 owners is used broadly to include holders of equity interests of investor-owned entities and owners or members of, or participants in, mutual entities.