Expand description
Provisions and contingencies models — IAS 37 / ASC 450.
This module provides data models for provisions (recognised liabilities of uncertain timing or amount), contingent liabilities (disclosed but not recognised), and provision movement roll-forwards.
§Framework differences
| Criterion | IAS 37 (IFRS) | ASC 450 (US GAAP) |
|---|---|---|
| Recognition | Probable (>50%) | Probable (>75%) |
| Measurement | Best estimate | Lower end of range |
| Discounting | Required when material | Permitted |
| Contingent liab. | Possible — disclose only | Possible — disclose only |
| Remote | No disclosure required | No disclosure required |
Structs§
- Contingent
Liability - A contingent liability disclosed in the notes per IAS 37.86 / ASC 450-20-50.
- Provision
- A recognised provision per IAS 37 / ASC 450.
- Provision
Movement - Roll-forward of a provision balance for one reporting period.
Enums§
- Contingent
Probability - Probability level for contingent items.
- Provision
Type - Category of provision.