If obligation has possible chances and reliably measured. It is provision or it is contingent liability?
Ask the Tutor ACCA FA
IAS 37
5y ago#1It is a provision, and because it is possible (i.e. between 5% and 50% likely) it will be disclosed by way of a note.
Thank you sir.
5y ago#3You are welcome :-)
This topic is locked — no new replies.