Page 177 - Finac1 Test 4 Slides

PROVISIONS, CONTINGENT LIABILITIES AND ASSETS

Prescribed study material

• IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

• IFRIC 5 Rights to Interest arising from Decommissioning,

Restoration and Environmental Rehabilitation Funds.

• IFRIC 1 Changes in Existing Decommissioning, Restoration and
Similar Liabilities (refer to the learning unit on Property, Plant and

Equipment).

• Chapter on provisions, contingent liabilities and contingent assets

in Descriptive Accounting, 20th edition.

• The principle of examination of IAS 37 is at core level.

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