Assignment 25705

b) Study the financial statements of different companies and select Ten (10) companies which have either created provision or had to deal with contingent asset/liability. then explain each company in one paragraph
Table Requirements:
1) name of company
2) the year
3) Provision or Continuing liability ” The pic number 33 explain if Provision what we should write and if Continuing liability what we should write”
4) Then came Amount should write how much the amount that take company if it was Provision or Continuing liability.
5) The purpose of the allocation of the amount that was in point “4”.
c) A Discussion on the nature of such provisions/contingencies and reasoning behind their creation. Analyse the impact of provisions on the financial performance and position of these companies.
d) Major issues in current standard on provisions and how is IASB trying to address these issues?