Actarius

Capital

Under a financial concept of capital, such as invested money or invested purchasing power, the net assets or equity of the entity. The financial concept of capital is adopted by most entities.

Under a physical concept of capital, such as operating capability, the productive capacity of the entity based on, for example, units of output per day.

Capitalisation

Recognising a cost as part of the cost of an asset.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Cash flows

Inflows and outflows of cash and cash equivalents

Consolidated financial statements

The financial statements of a group presented as those of a single economic entity.

Cost

The amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction, or, when applicable, the amount attributed to that asset when initially recognized in accordance with the specific requirements of other FRSs, eg FRS 2 Share-based Payment.

Cost of inventories

All costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition

Cost of purchase

All of the purchase price, import duties and other taxes (other than those subsequently recoverable by the entity from the taxing authorities), and transport, handling and other costs directly attributable to the acquisition of the item. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase.

Current Asset

An asset which satisfies any of the following criteria:

1. it is expected to be realised in, or is intended for sale or consumption in, the entity’s normal operating cycle;
2. it is held primarily for the purpose of being traded;
3. it is expected to be realised within twelve months after the balance sheet date; or

it is cash or a cash equivalent (as defined in FRS 107₂₀₀₄ Cash Flow Statements) unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the balance sheet date.

Current liability

A liability that satisfies any of the following criteria:

1. it is expected to be settled in the entity’s normal operating cycle;
2. it is held primarily for the purpose of being traded;
3. it is due to be settled within twelve months after the balance sheet date; or
4. the entity does not have an unconditional right to defer settlement of the liability for at least twelve months after the balance sheet date.

All other liabilities shall be classified as non-current.