That’s no contingent asset, or: why recognize it now when we could just wait?

A European example of misapplied standards… Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 21st edition: The issuer is an IT company which pursued in court another company, Entity X, for…

Disclosing contingent gains – is that even allowed?

Are certain kinds of disclosures actively prohibited under IFRS? Here’s a disclosure to think about: The amount that the company hopes to recover is, I think, a contingent asset – a “possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain…

John Hughes IFRS Blog

Shaking the bones of IFRS

Contingencies

That’s no contingent asset, or: why recognize it now when we could just wait?

Disclosing contingent gains – is that even allowed?