Training purpose selection is required.
Training plan selection is required.
In case of accounts payable there is little or no uncertainty relating to the amount due to a supplier or the timing when it becomes due. But if there is uncertainty about either the timing or the amount of the future expenditure required in settlement, we speak about provisions. The question arises, how the amount to be recognised as provisions shall be determined.
IAS 37 standard sets out the recognition, measurement and disclosure requirements of provisions, and it also deals with contingent assets and contingent liabilities. This course explains the concept and accounting treatment of provisions, contingent liabilities and contingent assets according to IAS 37 using practical examples and interim tests to enhance understanding.
This course will enable you to:
- understand the concept and define key characteristics of provisions
- to understand the concept of contingent liabilities and contingent assets
- distinguish contingent liabilities from liabilities and provisions
- apply the definition of “probable”
- identify recognition criteria for provisions
- understand how to measure provisions in different situations
- define accounting treatment of provisions, contingent liabilities and contingent assets
- identify specific type of provisions, like onerous contracts and restructuring provisions
- review IAS 37 standard's disclosure requirements
This e-learning course takes approximately 50 minutes to complete and as such, it can provide 1 learning hour - 1 CPD point based on a 50-minute hour. Upon completion of this course, you can print the certificate of completion as an evidence that you undertook the course.
In case you need CPA CPE credit points, please contact us for the certificates.
Further information:
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Training hours: 50 minutes
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CPD: 1.0
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Language: English
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Topics: IFRS, Reporting
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Sector: Corporates
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Training method: E-learning
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Type: Single course
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Geographic relevance: Global
This e-learning course is part of an e-learning series designed by PwC’s Academy Hungary which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (local) accounting and reporting processes.