IAS 37 - IAS 37 International Accounting Standard 37...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
IAS 37 © IFRS Foundation A899 International Accounting Standard 37 Provisions, Contingent Liabilities and Contingent Assets This version includes amendments resulting from IFRSs issued up to 31 December 2010. IAS 37 Provisions, Contingent Liabilities and Contingent Assets was issued by the International Accounting Standards Committee in September 1998. It replaced parts of IAS 10 Contingencies and Events Occurring After the Balance Sheet Date (issued in 1978 and reformatted in 1994) that dealt with contingencies. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. Since then, IAS 37 and its accompanying guidance have been amended by the following IFRSs: •I A S 8 Accounting Policies, Changes in Accounting Estimates and Errors (issued December 2003) A S 1 0 Events after the Reporting Period (issued December 2003) A S 1 6 Property, Plant and Equipment (as revised in December 2003) A S 3 9 Financial Instruments: Recognition and Measurement (as revised in December 2003) F R S 3 Business Combinations (issued March 2004) F R S 4 Insurance Contracts (issued March 2004) F R S 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004) Financial Guarantee Contracts (Amendments to IAS 39 and IFRS 4) (issued August 2005) A S 1 Presentation of Financial Statements (as revised in September 2007) * F R S 3 Business Combinations (as revised in January 2008) F R S 9 Financial Instruments (issued October 2010). § The following Interpretations refer to IAS 37: •S I C - 2 7 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (issued December 2001) I C - 2 9 Service Concession Arrangements: Disclosures (issued December 2001 and subsequently amended) * effective date 1 January 2009 effective date 1 July 2009 § effective date 1 January 2013 (earlier application permitted)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
IAS 37 A900 © IFRS Foundation •I F R I C 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities (issued May 2004) F R I C 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds (issued December 2004) F R I C 6 Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment (issued September 2005) F R I C 1 2 Service Concession Arrangements (issued November 2006 and subsequently amended) F R I C 1 3 Customer Loyalty Programmes (issued June 2007) F R I C 1 4 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction (issued July 2007 and subsequently amended) F R I C 1 5 Agreements for the Construction of Real Estate (issued July 2008). * * effective date 1 January 2009
Background image of page 2
IAS 37 © IFRS Foundation A901 C ONTENTS paragraphs INTRODUCTION IN1–IN23 INTERNATIONAL ACCOUNTING STANDARD 37 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS OBJECTIVE SCOPE 1–9 DEFINITIONS 10–13 Provisions and other liabilities 11 Relationship between provisions and contingent liabilities 12–13 RECOGNITION 14–35 Provisions
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/19/2012 for the course ACCT 100 taught by Professor Ayeshab during the Spring '12 term at Alvin CC.

Page1 / 24

IAS 37 - IAS 37 International Accounting Standard 37...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online