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Australia is free from some infectious diseases found in other parts of the world because
U.S. GAAP
United States Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting.
Long-Lived Asset
Assets used in the operations of a business that are expected to provide economic benefits for a period longer than one year.
Net Book Value
The value of an asset after subtracting accumulated depreciation from its original cost, synonymous with carrying value but rephrased for clear understanding.
Discontinued Item
Pertains to the gains or losses from operations of a component of a business that has been disposed of or is held for sale.
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