This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

IAS 37 Provisions - onerous contracts

Date recorded:

Issue

The IFRIC considered addressing when an entity should recognise, and how it should measure, an impairment of an asset received or another loss under a firmly committed executory contract.

 

Decision not to add

February 2002

 

Reason

The IFRIC decided not to add this issue onto its agenda because IAS 37 and IAS 36 provide sufficient guidance.

 

IFRIC reference: IAS 37