https://www.taxtmi.com/acts?id=20798 This Standard requires recognition of a provision for a contingent loss when it is probable that a loss existed at the balance sheet date and a reasonable estimate can be made; otherwise the contingency's nature and an estimate (or the inability to estimate) must be disclosed. Contingent gains are not recognised. Post balance sheet events that provide additional evidence about conditions existing at the balance sheet date require adjustment of assets and liabilities; other post date events normally require disclosure. Dividends declared after the balance sheet date are disclosed, not recognised as liabilities unless statute requires. en-us Mon, 18 Apr 2016 22:46:06 +0530 Mon, 18 Apr 2016 22:57:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20798 This Standard requires recognition of a provision for a contingent loss when it is probable that a loss existed at the balance sheet date and a reasonable estimate can be made; otherwise the contingency's nature and an estimate (or the inability to estimate) must be disclosed. Contingent gains are not recognised. Post balance sheet events that provide additional evidence about conditions existing at the balance sheet date require adjustment of assets and liabilities; other post date events normally require disclosure. Dividends declared after the balance sheet date are disclosed, not recognised as liabilities unless statute requires. Act-Rules Companies Law Mon, 18 Apr 2016 22:46:06 +0530 https://www.taxtmi.com/acts?id=20798