Understand the terms we use

Loans, Leasing & Mortgage Broking Terms

Annual Reporting Period

The financial year or similar period to which annual financial statements relate.

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Contingent Consideration

Usually, an obligation of the acquirer to transfer additional assets or equity interests to the former owners of an acquiree as part of the exchange for control of the acquiree if specified future events occur or conditions are met.

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Contingent Liability

(a) A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity; or

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Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

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Monetary Items

Units of currency held and assets and liabilities to be received or paid in a fixed or determinable number of units of currency.

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