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
