Definitions of Terms

Fair value

An amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's-length transaction.

Ordinary activities

Those activities of an enterprise which it undertakes as part of its business and such related activities in which the enterprise engages in furtherance of, incidental to, or arising from those activities.

Revenue

Gross inflow of economic benefits resulting from an enterprise's ordinary activities is considered "revenue," provided those inflows result in increases in equity, other than increases relating to contributions from owners or equity participants. Revenue refers to the gross amount (of revenue) and excludes amounts collected on behalf of third parties.