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Which of the following statements per IAS 37 are correct? A. An entity may choose whether or not to discount a provision however must be consistent with its policy. B. An entity should not recognise a contingent liability in the statement of financial position. C. An entity should only recognise a contingent asset if it is more likely than not that a present obligation exists at the balance sheet date. D. If discounting is used the compounding back of the liability over time should be recognised as an interest expense. E. IAS 37 allows entities to prudently 'build up' provisions to replace machinery in future over a number of years, where this is the management's intention. F. A provision must be recognised when an entity has a present obligation (which must be a legal obligation) as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. |