Concept explainers
Real World Case 13–19
Contingencies
• LO13–5
Real World Financials
IFRS
Reporting requirements for
Required:
For each of the following, access the online version of the indicated financial report and answer the question. Also compare reporting under IFRS to similar reporting under U.S. GAAP.
1. AU Optronics (Form 20-F, filed 3/21/2016): Where there is a continuous range of possible outcomes, with each point in the range as likely as any other, what amount is accrued as the estimate of the obligation?
2. B Communications LTD (Form 20-F, filed 4/19/2016): With respect to legal claims, at what probability level would B Communications accrue a liability for a possible litigation loss?
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