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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