Author(s): L. CERNUŞCA
Journal: Lucrări Ştiinţifice : Management Agricol
ISSN 1453-1410
Volume: XI;
Issue: 3;
Start page: 79;
Date: 2009;
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Original page
Keywords: evaluation | provision | assets | liabilities | contingent
ABSTRACT
The systematic pessimism of prudence led to the tendency of increasing the need for provisions, generally and in particular. Due to the harmonization of the accounting system at the International Accounting Standards Board, the professional accountants will have at their disposal the IAS 37 “Provisions, assets and contingent liabilities” which classifies the aspects regarding the term of ”provision”, its performance and appreciation. In part 2, the standard defines the term provision as “uncertain liabilities from the value or chargeability period point of view”. The International Accounting Standards Board contains references and recommendations on the need to constitute provisions, especially the ones needed for the pension funds.
Journal: Lucrări Ştiinţifice : Management Agricol
ISSN 1453-1410
Volume: XI;
Issue: 3;
Start page: 79;
Date: 2009;
VIEW PDF
DOWNLOAD PDF Original pageKeywords: evaluation | provision | assets | liabilities | contingent
ABSTRACT
The systematic pessimism of prudence led to the tendency of increasing the need for provisions, generally and in particular. Due to the harmonization of the accounting system at the International Accounting Standards Board, the professional accountants will have at their disposal the IAS 37 “Provisions, assets and contingent liabilities” which classifies the aspects regarding the term of ”provision”, its performance and appreciation. In part 2, the standard defines the term provision as “uncertain liabilities from the value or chargeability period point of view”. The International Accounting Standards Board contains references and recommendations on the need to constitute provisions, especially the ones needed for the pension funds.
