 |
|
|
Menu holder.
|
Custom Search
|
AS - 4CONTINGENCIES AND EVENTS OCCURRING AFTER THE BALANCE SHEET DATE
Objective & Scope: This
Statement deals with the treatment in financial statements of (a)
Contingencies & (b) Events
occurring after the balance sheet date. The
following subjects, though they may result in contingencies, are
excluded from the scope of this Statement in view of special
considerations applicable to them:
(a)
Liabilities of life assurance and general insurance enterprises
arising
from policies issued;
(b)
Obligations under retirement benefit plans; and
(c)
Commitments arising from long-term lease contracts.
Definitions:
Contingency:  |
|
|
|
|
