IASB re-exposes liability measurement proposals
05 Jan, 2010
The IASB has published for comment a revised exposure draft (ED/2010/1) of one section of a replacement for IAS 37 'Provisions, Contingent Liabilities and Contingent Assets'.
That section deals with measurement of liabilities that are within the scope of IAS 37. 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. In June 2005, the IASB had published Proposals to amend IAS 37, including revised measurement requirements. In the light of the comments received, the IASB has decided to issue revised proposals that include more guidance on measurement. Comment deadline is 12 April 2010. The IASB intends to replace IAS 37 in the third quarter of 2010. Click for IASB Press Release(PDF 100k).
Main provisions of the revised liability measurement ED:
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