- This topic has 1 reply, 2 voices, and was last updated 8 years ago by
.
- Posts
- Topics: 1
- Replies: 0
- ☆
hello,
i am doing an assignment regarding Cambodia’s micro finance industry whether or not the MFIs are complying with IFRS. And i’m researching about how provisions for doubtful debts are accounted for, in IFRS, in order to compare both. does provision for doubtful debts be considered in IAS 37?Not as such, no
The only reference of which I am aware is the application of the accruals / matching principle where costs / expenses of a period are matched against the revenues of that period
And, of course, IAS 37 excludes obligations and contingencies arising from financial instruments that are in the scope of “IAS 39 Financial Instruments: Recognition and Measurement (or IFRS 9 Financial Instruments)”
If the provision to which you refer is in regard to a financial instrument, then you need to be considering IFRS 9
OK?
- The topic ‘IAS 37 provision for doubtful debts’ is closed to new replies.