Programme Overview
IAS 37 draws the line between a provision that must be booked, a contingent liability that only gets disclosed, and a contingent asset that's usually left out entirely. This programme covers the recognition test and how to measure what qualifies.
Why This Programme
- ✓Tell the difference between a provision and a contingent liability
- ✓Apply the three-part recognition test for a provision
- ✓Measure a provision under uncertainty
- ✓Handle contingent assets correctly
- ✓Avoid the common over- and under-provisioning mistakes
- ✓Meet the disclosure requirements confidently
Assessment
- ✓Recognition Test Exercise
- ✓Measurement Case Study
- ✓Disclosure Workshop
- ✓Final Review
Main Modules
- Provisions vs Contingencies
Telling a provision, a contingent liability and a contingent asset apart - Recognition Criteria
The three-part test that decides whether a provision gets booked - Measuring a Provision
Best estimate, risk and uncertainty, discounting where it applies - Disclosure Requirements
What has to be disclosed, and what can stay out
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