1.今天你阅读到的有价值的全文内容链接
I finished reading FR M3 Part B Provisions P230-240
2.今天你阅读到的有价值的内容段落摘录
This part introduces requirements of IAS 37 that outlines specific existence, recognition and measurement criteria to be applied to provisions, plus extensive disclosures. Key word here is exploit, implies managers can take advantage of the uncertainty and subjectivity of provisions when recognizing and measuring them, in order to manipulate reported accounting numbers. In other words, in P237, to manage earnings that can smooth out profit fluctuations or to achieve a predetermined profit result.
IAS 37 applies to all provisions except executory contracts or provisions covered by other standards. E.g. tax, lease, employee benefits and insurance.
Provision is liabilities of uncertain timing or amount.
Estimates doesn’t mean uncertainty, so not all estimates result in provision. And if estimates here cannot measured reliably, then it’s not provision but contingent liability instead.
Three conditions listed to recognise a provision, past event, outflow of benefit and reliable estimates.
IAS 37 requires recognise the best estimate to settle the obligation at the end of period.
Many items – expected value
Single item – most likely outcome
Provisions are discounted when the effect of this discounting is material, using pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.
3.今天你阅读到的有价值信息的自我思考点评感想
I gradually understand the structure of knowledge demonstrated and obtained in this area of accounting. The graph in many slides.
4.昨日你阅读的时间量
3 hours.
5.你参与活动至今的总时间量
8 hours.
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