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IAS 37 – Measurement of liabilities under IAS 37 within the context of emission trading schemes

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EFRAG endorsement status report 24 June 2020
24 Jun 2020
The endorsement status report has been updated to reflect that EFRAG has published draft endorsement advice on Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37); Reference to the Conceptual Framework (Amendments to IFRS 3); Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16); and Annual Improvements to IFRS Standards 2018-2020
EFRAG endorsement status report 3 June 2020
03 Jun 2020
The endorsement status report has been updated to reflect that the IASB issued 'Reference to the Conceptual Framework', 'Property, Plant and Equipment — Proceeds before Intended Use', 'Onerous Contracts — Cost of Fulfilling a Contract', and 'Annual Improvements to IFRS Standards 2018–2020' on 14 May 2020, that the IASB issued 'Covid-19-Related Rent Concessions' on 28 May, and that EFRAG published final endorsement advice on 'Covid-19-Related Rent Concessions' on 2 June 2020.
Need to know — IASB publishes package of narrow-scope amendments to IFRS Standards
21 May 2020
This Need to know addresses the recent package of narrow-scope amendments to IFRS Standards that was published by the IASB on 14 May 2020.
Accounting considerations related to COVID-19 — IAS 37 and onerous contracts provisions
28 Apr 2020
This video discusses onerous contracts provisions related to COVID-19. At the inception of an executory contract, both parties to the contract expect to receive benefits that are equal to or greater than the costs to be incurred under the contract. Because of the impacts of COVID-19, unavoidable costs of meeting the obligations under the contract may exceed the benefits expected to be received, resulting in an onerous contract. IAS 37 'Provisions, Contingent Liabilities, and Contingent Assets' requires recognition of a provision in respect of an onerous contract.
EFRAG endorsement status report 9 December 2019
09 Dec 2019
The endorsement status report has been updated to reflect that the European Union has formally adopted 'Amendments to References to the Conceptual Framework in IFRS Standards'.
Deloitte comment letter on the IASB's proposed amendments to IFRS 3 to update a reference to the Conceptual Framework
20 Aug 2019
We agree with the proposed amendments to IFRS 3 to replace a reference to an old version of the Conceptual Framework. We also agree with the proposed addition of an exception for the recognition principles in IFRS 3 with respect to liabilities and contingent liabilities in the scope of IAS 37 and of IFRIC 21 and of the clarification of the IFRS 3 requirements for contingent assets. However, we believe that an exception to the recognition principles in IFRS 3 is also required with respect to uncertain current tax positions within the scope of IFRIC 23.
Need to know — IASB proposes to update references to the Conceptual Framework in IFRS 3
11 Jun 2019
This Need to know newsletter explains the recently proposed amendments to IFRS 3 'Business Combinations' that would update an outdated reference in IFRS 3 without significantly changing the requirements of the standard.
Deloitte comment letter on the IASB's proposed changes regarding onerous contracts
15 Apr 2019
We support the decision of the Board to limit the proposed amendments to the addition of a definition of what constitutes cost of fulfilling a contract when assessing whether a contract is onerous and we agree that defining the cost of fulfilling a contract as those costs that relate directly to the contract provides the most relevant information.
Need to know - IASB proposes to clarify onerous contract requirements
20 Dec 2018
This publication discusses the IASB's ED/2018/2 Cost of Fulfilling a Contract (Proposed amendments to IAS 37) published on 13 December 2018.
Deloitte comment letter on tentative agenda decision on IAS 37 — payments relating to taxes other than income tax
21 Nov 2018
We have commented on the IFRS Interpretations Committee's publication in the September 2018 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the recognition of an asset in respect of payments for taxes other than income tax.

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