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Hi I am looking at the pass paper 6/2012 Royan
So has the ias 37 been replaced? by 2010.
I’ve just checked this link….. https://www.iasplus.com/en/standards/ias/ias37 – check it for yourself – it’s very helpful 🙂
What makes you think that it has been replaced? The answer to question 2b in the June 2012 exam?
No, contingencies ARE included in the goodwill calculation under IFRS3 even though the uncertain event may be only possible (even remote) so maybe that’s the bit which has caused you concern
Yes I read it from June 12 paper..ifrs3 and 9 do not apply in the probability basis that’s the reasons for why to replace it. Is this correct?
Would it be a chance that provisions may come out for current issues? Even though it did on June 12 paper ?
Thanks alot Mike
It could – but so could leases (again) or convergence with US GAAP (always an issue) or any other matters currently under discussion by the IASB
IASPLUS is a useful website for current issues as also is http://www.accountancyage.com (although issues there are maybe TOO current to have been included in June’s P2 exam)
hi Mike
You did not answer my first question.
Thanks I will have a look at the website, leases came out on 6/2010 as a current issue.
Hi Karen
Your first question was “So has the ias 37 been replaced? by 2010.” and I think I answered it. Was it a different question that I failed to answer?
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