Provisions, contingent liabilities and contingent assets (IAS 37)

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Provisions, contingent liabilities and contingent assets (IAS 37) by Mind Map: Provisions, contingent liabilities and contingent assets (IAS 37)

1. Recognition and measurement

1.1. Recognition of provisions

1.1.1. Present obligation (constructive and legal obligations)

1.2. Measurement of provisions

1.2.1. Best estimate

1.2.2. Discounting

1.2.3. Changes in, and use of provision

1.2.4. Reimbursements

1.3. Onerous contracts and restructuring provisions

1.4. Contingent liabilities and contingent assets

2. Presentation and disclosure

2.1. IAS 1 considerations

2.1.1. Estimation and uncertainty

2.2. Provisions note

2.2.1. Financial and narrative information

2.3. Contingent liabilities and assets

2.4. Disclosure exemptions

3. Scope and definitions

3.1. Quick overview

3.2. Definitions

3.3. Scope

3.3.1. Executory contracts

3.3.2. Exclusions from IAS 37

4. Current issues and further resources

4.1. Current issues

4.1.1. Covid-19 considerations

4.1.2. Onerous contracts – costs of fulfilling a contract

4.1.3. Reporting Framework differences

4.1.4. IFRIC agenda

4.2. Further resources

4.2.1. Reported Disclosures

4.2.2. IFRS disclosure checklist

4.2.3. Model accounts