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Articles
FRS137 Provisions, Contigent Liabilities and Contingent Assets pg6
Financial Reporting Standard 137
Appendix B
Decision Tree
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This appendix accompanies, but is not part of, FRS 137. Its purpose is to summarise the main recognition requirements of the Standard for provisions and contingent liabilities. |
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Note: in rare cases, it is not clear whether there is a present obligation. In these cases, a past event is deemed to give rise to a present obligation if, taking account of all available evidence, it is more likely than not that a present obligation exists at the balance sheet date (paragraph 15 of the Standard). |
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