This course is part of the IFRS Certificate Program – a comprehensive, integrated curriculum that will give you the basic training, knowledge, and practical guidance in international accounting standards that are necessary in today's global business environment. Credit for individual courses purchased can be applied to the full program. Click here for information on the complete program.
The purpose of this course is to familiarize you with the objective of IAS 37 to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets and that sufficient information is disclosed in the notes to the financial statements to enable users to understand their nature, timing and amount. The key principle established by IAS 37 is that a provision should be recognized only when there is a liability (i.e., a present obligation resulting from past events).
Upon completion of this course, you will be able to: