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The threshold for recording contingent liabilities under IFRS is lower than that under GAAP. T or F?

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  • The threshold for recording contingent liabilities under IFRS is lower than that under GAAP. T or F?


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contingent liability. Under IFRS, ... Under US GAAP, a contingent loss must be ... Probable is defined as "likely" which is a higher threshold than 51 ...
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Positive: 35 %
IAS 37 Provisions, Contingent Liabilities and ... This extract has been prepared by IFRS Foundation staff and has ... IAS 37 prescribes the accounting ...
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Positive: 32 %

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IFRS allows any contingent liability to be ... way onto the balance sheet under IFRS than GAAP. ... is indeed a lower threshold than 'reasonably ...
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Positive: 35 %
... Current Liabilities and Contingencies Case Study The purpose of this activity is to expose students to the varying treatment of specific items under U ...
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Positive: 30 %
Current Major Differences Between IFRS and US GAAP ... Book values are likely to increase under IFRS. ... Contingent liabilities must be disclosed.
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Positive: 16 %
... as liabilities under IFRSs than under U.S. GAAP. ... Comparison IFRS and US GAAP ... Contingent gain. 4. IFRS US GAAP ...
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Positive: 10 %

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