Provisions, contingent liabilities and contingent assets
Associated Courses
This e-learning course is part of an e-learning series designed by PwC Könyvvizsgáló Kft. which aims to provide a comprehensive overview of the application of IFRS (IAS) standards to finance and accounting experts who are already familiar with fundamental (Hungarian) accounting and reporting processes.
Our instructors – experts in IFRS – designed the professional materials according to the IAS 37 Provisions, contingent liabilities and contingent assets standards currently in effect. They made the curriculum more accessible by including practical examples and interim tests to help knowledge assessment. The material ends with a test questionnaire.
The e-learning introduces the following topics:
- Introduction
- Definitions: definition of provisions, contingent assets and liabilities according to IFRS. How can we distinguish amongst liabilities? – trade payables, accruals, provisions, contingent liabilities.
- Recognition: accounting for provisions – recognition criteria; obligating event; accounting treatment of contingent assets and liabilities, comparison of the accounting treatments; types of provisions, – specific provisions
- Measurement: measurement of provisions – discounting, reversal, how to account for reimbursements
- Disclosures
- Test your knowledge
The e-learning introduces the following topics:
- Introduction
- Definitions: definition of provisions, contingent assets and liabilities according to IFRS. How can we distinguish amongst liabilities? – trade payables, accruals, provisions, contingent liabilities.
- Recognition: accounting for provisions – recognition criteria; obligating event; accounting treatment of contingent assets and liabilities, comparison of the accounting treatments; types of provisions, – specific provisions
- Measurement: measurement of provisions – discounting, reversal, how to account for reimbursements
- Disclosures
- Test your knowledge
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