Indian Accounting Standard (Ind AS) 37, Provisions, Contingent Liabilities and Contingent Assets, prescribes the principles for recognition, measurement and disclosure of provisions. It also requires to disclose certain information regarding provisions, contingent liabilities and contingent assets, in the notes to enable the users to understand their nature, timing and amount. The Educational Material on Ind AS 37 contains summary of Ind AS 37 discussing the key requirements of the Standard in brief and Frequently Asked Questions (FAQs) on issues which are expected to be encountered while implementing this Standard.

Relevant link to download the Educational Material: https://resource.cdn.icai.org/42086indas31749as37.pdf