|Provisions relating to general present obligations from past events recorded If
outflow of resources is probable and can be reliably estimated.
Provisions are discounted to present value where the effect of the time value of money is material
|Similar to IFRS, with rules for specific situations such as environmental liabilities, loss contingencies, etc.
|Similar to IFRS, except that discounting is not permitted.
|Provisions – restructuring
|Restructuring provision is recognised if detailed formal plan announced or implementation effectively begun.
|Recognition of liability based solely on commitment to plan is prohibited. In order to recognise, restructuring plan has to meet the definition of a liability, including certain criteria regarding likelihood that no changes will be made to plan or that plan will be withdrawn.
|Restructuring provisions is
recognition criteria for provisions are met.
|Disclose unrecognised possible losses and probable gains.
|Similar to IFRS
|Similar to IFRS, except that contingent gains are neither recognised nor disclosed
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