AASB 124 definition

AASB 124. : means the Australian Accounting Standards Board, Related Party Disclosures Standard.
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AASB 124. - means the Australian Accounting Disclosures Standard.
Sample 1Sample 2

Examples of AASB 124 in a sentence

  • The Group has applied AASB 124 Related Party Disclosures which allows certain remuneration details to be disclosed in the Directors’ Report rather than the financial report so as to avoid duplication of information.

  • In December 2009 the AASB issued a revised AASB 124 Related Party Disclosures.

  • The Australian Accounting Standards Board has determined that from 1 July 2016, AASB 124 (Related Party Disclosures) will apply to government entities including local governments.

  • The objective of AASB 124 “is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances, including commitments, with such parties”.

  • In addition to By-Law 10.1and 10.2, CPA Australia must disclose remuneration for Key Management Personnel, as defined by AASB 124, consistent with the approach set out for Directors under By-Law 10.2 above.

  • The purpose of this procedure is to identify key management personnel, related parties and transactions in the assessment process of AASB 124.

  • AASB 124 defines KMP's as “those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly”.

  • The Standard amends AASB 124 Related Party Disclosures to remove the individual key management personnel (KMP) disclosures required by Australian specific paragraphs.

  • The objective of this policy is to provide guidance on:  The identification of Council’s related parties; Management of related party transactions; Recording such transactions; and Disclosure of the transactions in the Shire of Dardanup annual financial statements in accordance with AASB 124.

  • The amendments added an exemption from the detailed disclosure requirements in paragraph 17 of AASB 124 for KMP services provided by a management entity.

Related to AASB 124

  • NI 81-107 means National Instrument 81-107 Independent Review Committee for Investment Funds;

  • NI 52-110 means National Instrument 52-110 – Audit Committees.

  • NI 52-107 means National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency;

  • NI 81-102 means National Instrument 81-102 – Investment Funds.

  • Pistol means any firearm with a barrel less than sixteen inches in length, or is designed to be held and fired by the use of a single hand.

  • NI 45-106 means National Instrument 45-106 – Prospectus and Registration Exemptions;

  • NI 52-109 means National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings;

  • NI 51-102 means National Instrument 51-102 – Continuous Disclosure Obligations;

  • Riprap means small, broken stones or boulders placed compactly or irregularly on dykes or similar embankments for protection of earth surfaces against wave action or current;

  • HDPE means high density polyethylene;

  • Bottle means any vessel intended to contain liquids and having a capacity of not more than 43

  • Sewage sludge weight means the weight of sewage sludge, in dry U.S. tons, including admixtures such as liming materials or bulking agents. Monitoring frequencies for sewage sludge parameters are based on the reported sludge weight generated in a calendar year (use the most recent calendar year data when the NPDES permit is up for renewal).

  • Aliquot means a fractional part of a specimen used for testing. It is taken as a sample representing the whole specimen.

  • Pump spray means a packaging system in which the product ingredients within the container are not under pressure and in which the product is expelled only while a pumping action is applied to a button, trigger or other actuator.

  • Cold Weather Alert means the notice that PJM provides to PJM Members, Transmission Owners, resource owners and operators, customers, and regulators to prepare personnel and facilities for expected extreme cold weather conditions.

  • Pyrolysis means the thermal degradation of a substance in the absence of any oxidising agent, which does not form part of the substance itself, to produce char and gas and/or liquid; and

  • MARPOL 73/78 means the International Convention for the Prevention of Pollution from Ships (1973) as modified by the Protocol of 1978 relating thereto;