Understanding Contingent Liabilities: Types, Recognition, and Impact
IFRS 9, as issued in July 2014, amended paragraph 2 and deleted paragraphs 97 and 98. The effect of possible new legislation is taken into consideration in measuring an existing obligation when sufficient objective evidence exists that the legislation is virtually certain to be enacted. The variety of circumstances that arise in practice makes it impossible to specify a […]
Understanding Contingent Liabilities: Types, Recognition, and Impact Read More »
