7 The following terms are used in this Standard with the meanings specified:

Accounting policies: are  defined  in  paragraph  5  of  IAS  8  Accounting  Policies, Changes  in  Accounting  Estimates  and  Errors,  and  the  term  is  used  in  this Standard with the same meaning.

General purpose financial statements: (referred to as ‘financial statements’) are those intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs.

Impracticable: Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so.