IFRS: Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)

Addresses requirements of IAS 37, Provisions, Contingent Liabilities, and Contingent Assets.

• Accounting and finance professionals who work for private or public multinational organizations whose parent entity or subsidiaries have adopted IFRS
• Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS

• Identify the existence of a provision, contingent liability, and a contingent asset
• Identify when to recognize and measure a provision.
• Recognize when a contingent item should be disclosed.