Man I love you, you're just an amazing human being.... Thanks really for all the efforts and for simplifying every little thing.
@lalith1380
5 жыл бұрын
Sri.. i am from 🇱🇰 ..new framework says relavant and faithful representation must be stisfied to recognize an asset or liability....so i have an problem that does this effect to IAS 37 recognition criteria of provision or contingent liability?????
@sonalpunchihewa9273
3 жыл бұрын
According to IAS 37 provision is based on probable outflow of economic benefits which is more than 50%, legal or constructive obligation due to a past event, or u can measure the outflow reliably such as a warranty claim. Whereas contingent liability is through possible or present obligation which is less than 50% chance of happening;, this is disclosed as a note. The recognition criteria is solely for recognising the full asset and the liability on the financial statements not just the provision or the contingent
@lalith1380
5 жыл бұрын
Plz sir i want a reply..thank you...
@opentuition
5 жыл бұрын
ACCA tutors do NOT read comments here, Go to our Ask the tutor Forums opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-financial-reporting-fr-exams/
Пікірлер: 7