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Nov 2010

SLAS 36: Provisions, contingent liabilities and contingent assets

This latest document from the CIMA Sri Lanka accounting standards study group has two objectives. The first is to ensure that appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets. The second is to make sure sufficient information is disclosed in the notes to financial statements for readers to be able understand their nature, timing and amount.

SLAS 36: Provisions, contingent liabilities and contingent assets