Contingent Liabilities

IFRS Part 4.1 Contingent Liabilities Exception

There are certain exceptions to the recognition and/or measurement principles which cover contingent liabilities, income taxes, employee benefits, indemnification assets, reacquired rights, share-based payments and assets held for sale.

A contingent liability is to be recognized in combination if:
a) Its Fair Value can be measured reliably and b) There is a potential obligation.

Would you like to complete this exception?

Yes

Please input at fair value on the acquisition date (popluate from worksheet) all contingent liabilities assumed that are present obligations (defn: legal or constructive obligations that result from a past event) that also are reliably measurable.
DO NOT include Contingent assets and possible obligations assumed are not recognized by the acquirer on the acquisition date.

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