1 A B C D E F G H I J K L M N O P Q R S T U V W

Obligating event

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

 

 

 

 

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Observable inputs

Inputs that are developed using market data, such as publicly available information about actual events or transactions, and that reflect the assumptions that market participants would use when pricing the asset or liability.

 

 

 

 

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Onerous contract

An onerous contract is a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.

 

 

 

 

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Operating activities

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

 

 

 

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Operating lease

A lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.

 

 

 

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Operating segment

An operating segment is a component of an entity:

  1. 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),
  2. 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
  3. for which discrete financial information is available.

 

 

 

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Optional lease payments

Payments to be made by a lessee to a lessor for the right to use an underlying asset during periods covered by an option to extend or terminate a lease that are not included in the lease term.

 

 

 

 

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Orderly transaction

A transaction that assumes exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction (eg a forced liquidation or distress sale).

 

 

 

 

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Ordinary share

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

 

 

 

 

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Other comprehensive income

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

 

 

 

 

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Other price risk

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 by factors affecting all similar financial instruments traded in the market.

 

 

 

 

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Owner-occupied property

Property held (by the owner or by the lessee under a lease contract) for use in the production or supply of goods or services or for administrative services.

 

 

 

 

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Owners

Owners are holders of instruments classified as equity. (IAS 1 7)

OR

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. (IFRS 3 Appendix A)

 

 

 

 

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