ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FRS 11 Definition
FRS 11 sets out the principles and methodology for accounting for impairments of fixed assets and goodwill. It replaces the previous approach whereby diminutions in value were recognized only if they were regarded as permanent. Instead, the carrying amount of an asset is compared with its recoverable amount and, if the carrying amount is higher, the asset is written down.
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CEBS is Certified Employee Benefit Specialist, Committee of European Banking Supervisors, or Capital Equipment Budget System.
FORWARD, in securities, is an agreement between two parties to exchange specific items, for example, two currencies, at a specified future date and a specified price.