IAS 37 - Provisions, Contingent liabilities and Assets - Part 1
The objective of IAS 37 Provisions, Contingent Liabilities and Contingent Assets is to ensure that: • 'appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets, and that • sufficient information is disclosed in the notes to the financial statements to enable users to understand their nature, timing and amount.' In several instances, management will many events in the financial statement of entity as an expense; in view of that the accounting standard 37 was established to govern the treatment and presentation of provisions, contingent liabilities and contingent asset. This provide comprehensive understanding of the standard and its related issues. Please watch, learn and share with others. thank you #IAS37 #ProvisionContigentLiabilitiesContigentAssets #Provisions #ICAG #ACCA #financialreporting #SBR #CorporateReporting #AccountingStandards #IAS #IFRS

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