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

Performance condition

A vesting condition that requires:

  1. the counterparty to complete a specified period of service (ie a service condition); the service requirement can be explicit or implicit; and
  2. specified performance target(s) to be met while the counterparty is rendering the service required in (a).

The period of achieving the performance target(s):

  1. shall not extend beyond the end of the service period; and
  2. may start before the service period on the condition that the commencement date of the performance target is not substantially before the commencement of the service period.

A performance target is defined by reference to:

  1. the entity’s own operations (or activities) or the operations or activities of another entity in the same group (ie a non-market condition); or
  2. the
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Performance obligation

A promise in a contract with a customer to transfer to the customer either:

  1. a good or service (or a bundle of goods or services) that is  distinct; or
  2. a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.




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Period of use

The total period of time that an asset is used to fulfil a contract with a customer (including any non-consecutive periods of time).





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