Ind AS 37

Objectives and Scope – Ind AS 37
Objectives and Scope – Ind AS 37  Introduction to Ind AS 37 Ind AS 37 Provisions, contingent liabilities and contingent assets outlines the accounting for provisions (liabilities of uncertain timing...
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Provisions – Ind AS 37
Provisions as per Ind AS 37 What is a Provision? Provision is a liability of uncertain timing or amount The word “uncertain” is very important here, because if timing and amount are certain...
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Measurement of Provision – Ind AS 37
Measurement of Provision – Ind AS 37 The amount of the provision should be measured at the best estimate of the expenditures required to satisfy the obligation at the end of the...
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Disclosures – Ind AS 37
Disclosures as per Ind AS 37 For Provisions For each class of provision, an entity shall disclosethe carrying amount at the beginning and end of the periodadditional provisions made in...
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Appendix to Ind AS 37
Appendix to Ind AS 37 Appendix A Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds The purpose of decommissioning, restoration and environmental rehabilitation funds, hereafter referred to...
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Impact of COVID 19 on Ind AS 37
Impact of COVID 19 on Ind AS 37 Onerous Contract Onerous contracts are those contracts for which the unavoidable costs of meeting the obligations under the contract exceed the economic...
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