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Saturday 19 April 2014

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Non-financial liabilities

 Non-financial liabilities (amendments to IAS 37)

This project was a major IFRS project, but the IASB decidede to make this a research project.

IAS 37 Provisions, Contingent Liabilities and Contingent Assets addresses liabilities of uncertain timing or amount that are not within the scope of another standard. The research project will focus on identifying examples that are continuing to cause difficulty in practice and it will initially provide test cases for the staff developing the Conceptual Framework.