IAS 37 Provisions, Contingent Liabilities and Contingent Assets
E458266
IAS 37 Provisions, Contingent Liabilities and Contingent Assets is an International Accounting Standard that sets out the criteria and measurement rules for recognizing and disclosing provisions, contingent liabilities, and contingent assets in financial statements.
All labels observed (2)
How this entity was disambiguated
This entity first appeared as the object of triple T4575909 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IAS 37 Provisions, Contingent Liabilities and Contingent Assets Context triple: [International Financial Reporting Standards, includesStandard, IAS 37 Provisions, Contingent Liabilities and Contingent Assets]
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A.
IAS 36 Impairment of Assets
IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
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B.
IAS 16 Property, Plant and Equipment
IAS 16 Property, Plant and Equipment is an International Accounting Standard that prescribes the accounting treatment for tangible long-term assets, including their recognition, measurement, depreciation, and derecognition.
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C.
IAS 12 Income Taxes
IAS 12 Income Taxes is an International Accounting Standard that prescribes the accounting treatment for current and deferred income taxes in financial statements.
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D.
IAS 1 Presentation of Financial Statements
IAS 1 Presentation of Financial Statements is an International Accounting Standard that sets out the overall requirements for the structure, content, and minimum disclosures of general purpose financial statements.
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E.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IAS 37 Provisions, Contingent Liabilities and Contingent Assets Target entity description: IAS 37 Provisions, Contingent Liabilities and Contingent Assets is an International Accounting Standard that sets out the criteria and measurement rules for recognizing and disclosing provisions, contingent liabilities, and contingent assets in financial statements.
-
A.
IAS 36 Impairment of Assets
IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
-
B.
IAS 16 Property, Plant and Equipment
IAS 16 Property, Plant and Equipment is an International Accounting Standard that prescribes the accounting treatment for tangible long-term assets, including their recognition, measurement, depreciation, and derecognition.
-
C.
IAS 12 Income Taxes
IAS 12 Income Taxes is an International Accounting Standard that prescribes the accounting treatment for current and deferred income taxes in financial statements.
-
D.
IAS 1 Presentation of Financial Statements
IAS 1 Presentation of Financial Statements is an International Accounting Standard that sets out the overall requirements for the structure, content, and minimum disclosures of general purpose financial statements.
-
E.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
- F. None of above. chosen
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Accounting standard
ⓘ
International Accounting Standard ⓘ |
| addresses |
Onerous contracts
ⓘ
Restructuring provisions ⓘ |
| appliesTo |
All entities applying IFRS
ⓘ
General purpose financial statements ⓘ |
| defines |
Contingent asset
ⓘ
Contingent liability ⓘ Provision ⓘ |
| governs |
Contingent assets
ⓘ
Contingent liabilities ⓘ Provisions ⓘ |
| issuedBy |
IASB
ⓘ
linked to:
International Accounting Standards Board
International Accounting Standards Board ⓘ |
| measurementBasis | Best estimate of the expenditure required to settle the present obligation ⓘ |
| objective |
Ensure appropriate recognition and measurement of provisions
ⓘ
Ensure that contingent liabilities and contingent assets are disclosed appropriately ⓘ Ensure that sufficient information is disclosed about provisions ⓘ |
| partOf | International Financial Reporting Standards ⓘ |
| prohibits | Recognition of provisions for future operating losses ⓘ |
| recognitionCriterion |
Present obligation from past events
ⓘ
Probable outflow of resources embodying economic benefits ⓘ Reliable estimate of the obligation can be made ⓘ |
| recognitionRuleForContingentAssets | Contingent assets are not recognized until realization is virtually certain ⓘ |
| recognitionRuleForContingentLiabilities | Contingent liabilities are not recognized but disclosed ⓘ |
| relatedConcept |
Constructive obligation
ⓘ
Legal obligation ⓘ Possible obligation ⓘ Present obligation ⓘ |
| replaced | IAS 10 Contingencies and Events Occurring After the Balance Sheet Date (in respect of contingencies) ⓘ |
| requires |
Reversal of provisions when outflow is no longer probable
ⓘ
Review of provisions at each reporting date ⓘ Use of present value when effect of time value of money is material ⓘ |
| requiresDisclosureOf |
Carrying amount of each class of provision
ⓘ
Contingent assets when inflow is probable ⓘ Contingent liabilities unless outflow is remote ⓘ Major assumptions concerning future events ⓘ Nature of obligations and expected timing of outflows ⓘ Reconciliation of opening and closing balances of provisions ⓘ Uncertainties about amount or timing of outflows ⓘ |
| scopeExclusion |
Executory contracts unless onerous
ⓘ
Financial instruments within the scope of IFRS 9 ⓘ Insurance contracts within the scope of IFRS 4 or IFRS 17 ⓘ |
| setsOut |
Disclosure requirements for contingent assets
ⓘ
Disclosure requirements for contingent liabilities ⓘ Disclosure requirements for provisions ⓘ Measurement rules for provisions ⓘ Recognition criteria for provisions ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IAS 37 Provisions, Contingent Liabilities and Contingent Assets Description of subject: IAS 37 Provisions, Contingent Liabilities and Contingent Assets is an International Accounting Standard that sets out the criteria and measurement rules for recognizing and disclosing provisions, contingent liabilities, and contingent assets in financial statements.
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
International Financial Reporting Standards
→
includesStandard
→
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
ⓘ
IFRS 16 Leases
→
relatedToStandard
→
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
ⓘ
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
→
replaced
→
IAS 10 Contingencies and Events Occurring After the Balance Sheet Date (in respect of contingencies)
ⓘ
linked to: IAS 37 Provisions, Contingent Liabilities and Contingent Assets