A Snap Shot into Accounting-IAS 37.
BCOM, BBA, CPA AND ACCA, accounting students and Any Other Accounting Practitioners. Understanding IAS 37-Provisions, Contingent Assets and Contingent Liabilities. Provision A provision is a liability of uncertain timing and amount. The objective of IAS 37 is to specify the accounting treatment for provisions- This accounting standard brings about consistence in the making of provisions in […]