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How can we present contingent assets and liabilities in financial statement?

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Question added by hijrat hijrat
Date Posted: 2016/05/13
Hussein Mohamed
by Hussein Mohamed , Audit Manager , BDO International

It disclosed in the Notes of Financial statements.

Judel Rosal
by Judel Rosal , Assurance and Audit Associate , SGV & Co. (EY Philippines)

With reference to IAS 37, contingent assets and liabilities should not be presented in the face of financial statements, they are only disclosed in the notes to financial statements.

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