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Newsletter on proposals for liability measurement

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22 Jan 2010

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter — 'IASB refines proposals for the measurement of liabilities in IAS 37'.

On 5 January 2010, the IASB published for comment a revised exposure draft on measurement of liabilities that are within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. IAS 37 applies to liabilities not covered by other accounting standards, including liabilities to decommission assets, environmental liabilities, obligations under onerous contracts, and liabilities arising from legal disputes.

The comment deadline on the revised exposure draft is 12 April 2010. The IASB intends to replace IAS 37 in the third quarter of 2010. This IAS Plus newsletter explains the proposals in the revised ED.

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