AASB 137 - Provisions, Contingent Liabilities and Contingent Assets - July 2004
C Examples: RecognitionC Examples: Recognition
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C Examples: Recognition
All the entities in the examples have 31 December year-ends. In all cases, it is assumed that a reliable estimate can be made of any outflows expected. In some examples the circumstances described may have resulted in impairment of the assets – this aspect is not dealt with in the examples.
The cross-references provided in the examples indicate paragraphs of the Standard that are particularly relevant.
References to ‘best estimate’ are to the present value amount, where the effect of the time value of money is material.