Examlex
What is a prior period error?
How has the treatment of prior period errors changed from the former AASB 1018 to the current AASB 108?
What is the major implication of this change?
Equity Instrument
A type of financial security that signifies ownership in a company and represents a claim on part of the company's assets and earnings, such as stocks.
Market Participant
An entity or individual with the willingness and ability to buy, sell, or otherwise engage in transactions in a market.
Risk Aversion
The reluctance or avoidance of undertaking investment with uncertain outcomes, preferring outcomes that are more predictable.
Owner-Manager
An individual who both owns a significant part of a company and is actively involved in its management.
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