IAS 37 | Onerous Contract | Contingent Assets | Restructuring Charge International Accounting
Updated video : https://www.youtube.com/playlist?list=PLxP0KZzCGFYPI21T8CNzwo9-FDvKTo6DZ
Visit: https://www.farhatlectures.com To access resources such as quizzes, power-point slides, CPA exam questions, and CPA simulations.
Instagram Account: @farhatlectures
Linkedin: https://www.linkedin.com/in/professor...
Facebook: @accountinglectures
Twitter: @farhatlectures
Email: Mansour.farhat@gmail.com
#CPAEXAM #ACCA #accountingstudent
IAS 37 requires the recognition of a provision for the present obligation related to an “onerous contract,” that is, a contract in which the unavoidable costs of meeting the obligation of the contract exceed the economic benefits expected to be received from it. However, recognition of a provision for expected future operating losses is not allowed. When an onerous contract exists, a provision should be recognized for the unavoidable costs of the contract, which is the lower of the cost of fulfillment and the penalty that would result from nonfulfillment under the contract. When a contract becomes onerous as a result of an entity’s own action, the resulting provision should not be recognized until that action has actually occurred.
My website: https://farhatlectures.com/
Facebook page: https://www.facebook.com/accountinglectures
LinkedIn: https://goo.gl/Pp2ter
Twitter: https://twitter.com/farhatlectures
Email Contact: Mansour.farhat@gmail.com
Видео IAS 37 | Onerous Contract | Contingent Assets | Restructuring Charge International Accounting канала Farhat's Accounting Lectures
Visit: https://www.farhatlectures.com To access resources such as quizzes, power-point slides, CPA exam questions, and CPA simulations.
Instagram Account: @farhatlectures
Linkedin: https://www.linkedin.com/in/professor...
Facebook: @accountinglectures
Twitter: @farhatlectures
Email: Mansour.farhat@gmail.com
#CPAEXAM #ACCA #accountingstudent
IAS 37 requires the recognition of a provision for the present obligation related to an “onerous contract,” that is, a contract in which the unavoidable costs of meeting the obligation of the contract exceed the economic benefits expected to be received from it. However, recognition of a provision for expected future operating losses is not allowed. When an onerous contract exists, a provision should be recognized for the unavoidable costs of the contract, which is the lower of the cost of fulfillment and the penalty that would result from nonfulfillment under the contract. When a contract becomes onerous as a result of an entity’s own action, the resulting provision should not be recognized until that action has actually occurred.
My website: https://farhatlectures.com/
Facebook page: https://www.facebook.com/accountinglectures
LinkedIn: https://goo.gl/Pp2ter
Twitter: https://twitter.com/farhatlectures
Email Contact: Mansour.farhat@gmail.com
Видео IAS 37 | Onerous Contract | Contingent Assets | Restructuring Charge International Accounting канала Farhat's Accounting Lectures
Показать
Комментарии отсутствуют
Информация о видео
7 августа 2019 г. 1:00:02
00:15:10
Другие видео канала
![IAS 37 Provisions Contingent Liabilities | Contingent Assets | International Accounting | IFRS](https://i.ytimg.com/vi/vDKstEdAmKk/default.jpg)
![](https://i.ytimg.com/vi/_0ZIs-z1qDE/default.jpg)
![IAS 19 Employee Benefits | Pension Defined Benefit Plan| IFRS Lectures | International Accounting](https://i.ytimg.com/vi/sKJvbESIkRk/default.jpg)
![IAS 37 - specific provision scenarios - ACCA Financial Reporting (FR)](https://i.ytimg.com/vi/FsbSbyZ5v14/default.jpg)
![IAS 37 Provisions, Contingent Liabilities and Contingent Assets - summary](https://i.ytimg.com/vi/cM9YQUegKUs/default.jpg)
![Derecognition of Receivable | IFRS Lectures | IFRS 9 | Repo 105 | ACCA Exam |](https://i.ytimg.com/vi/vA2cIVcUeNI/default.jpg)
![IAS 36 Impairment of Assets](https://i.ytimg.com/vi/vcgzcP2ipX0/default.jpg)
![IAS 38 | Intangibles Assets | IFRS Course | International Accounting Course](https://i.ytimg.com/vi/zALfZtRuqRs/default.jpg)
![IAS 37 - provisions and contingent liabilities - ACCA Financial Reporting (FR)](https://i.ytimg.com/vi/KTC3YLD-p9k/default.jpg)
![Sections 1231, 1245, & 1250](https://i.ytimg.com/vi/Nrm2RzLhUog/default.jpg)
![IAS 37 - Provisions for onerous contracts](https://i.ytimg.com/vi/64lBGYwvi-g/default.jpg)
![IAS 40 Investment property | IFRS International Accounting Course](https://i.ytimg.com/vi/kmE7FbXOf8I/default.jpg)
![IFRS 9 Impairment | Current Expected Credit Loss Model | General Model | ACCA Exam | IFRS Lectures](https://i.ytimg.com/vi/x0OsNn-qm6c/default.jpg)
![IAS 12 Income Taxes: Summary 2020](https://i.ytimg.com/vi/8R0EXOKA7XY/default.jpg)
![IAS 7 Statements of Cash Flows | IFRS Lectures | ACCA Exam | CPA Exam FAR | International Accounting](https://i.ytimg.com/vi/6BKblptkpHY/default.jpg)
![Introduction to International Public Sector Accounting Standards (IPSAS)webinar](https://i.ytimg.com/vi/jFOmijy41AY/default.jpg)
![IFRS 16 Leases IFRS Lectures Finance Lease International Counteracting ACCA Exam default](https://i.ytimg.com/vi/VRZ17M8dLEk/default.jpg)
![Going Concern Assumption l Intermediate Accounting l CPA Exam FAR](https://i.ytimg.com/vi/7xsWHcgNOko/default.jpg)
![IAS 37 - Restructuring Provisions Class Example](https://i.ytimg.com/vi/eSTxtpfAQWI/default.jpg)
![IAS 37, Provisions, Contingent Liabilities and Contingent Assets](https://i.ytimg.com/vi/dRWhkE6QDy8/default.jpg)