Register now or log in to join your professional community.
Recognition of Contingent liability if, and only if, all of the following criterias are meet:
a) A present obligation (legal or constructive) has arisen as a result of past event,
b) Payment is probable (more than20% probabilty, less than or equal to20% needs to be disclosed in notes),
c) Payment can be estimated reliably.
IAS37
Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.