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Research into assets and liabilities

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07 Jun 2019

In October 2016, the third IASB Research Forum was held in Waterloo, Ontario, Canada. One of the papers presented was 'Assets and Liabilities: When do they Exist?'. IASB discussant of the paper was Board member Mary Tokar. The paper has now been finalised and published together with the discussion by Ms Tokar.

The paper investigates whether the current references to probability in standard setters' conceptual definitions of assets and liabilities cause individuals to believe that the probability of a future transfer of economic benefits must be above some meaningful threshold for an asset or a liability to exist.

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