RSM Poland


Blog: Paulina PRUSIK

23 September 2020

When keeping the accounting books, you come across many economic events you are obliged to correctly recognise in the financial statements at the end of the reporting period. Sometimes you come across unusual, less common events, such as inventory valuation or reserve recognition. Non-current assets held for sale and assets related to discontinued operations, regulated in detail in IFRS 5, are other examples here.

10 February 2020

The consequences of applying the prudence principle and the matching principle involve recognising provisions and disclosing contingent liabilities. In practice, these areas stir a lot of controversy because of the danger of being subjective, so typical for any decision-making under uncertainty.

In line with IAS 37, provisions are liabilities and must have all the characteristics of liabilities as being a balance sheet item.

Blog - Autorzy

Anna MAJ (1)
Ewa PYTEL (1)