For each class of provision, an entity is required by IAS 37 to disclose the following information:
I The carrying amount at the beginning and end of the period.
II Amounts incurred and charged against the provision during the period.
III Comparative information.
IV Unused amounts reversed during the period.
V Additional provisions made during the period.

Question

For each class of provision, an entity is required by IAS 37 to disclose the following information:
 I The carrying amount at the beginning and end of the period.
II Amounts incurred and charged against the provision during the period.
III Comparative information.
IV Unused amounts reversed during the period.
V Additional provisions made during the period.

Quizplus · Accepted Answer

IAS 37 requires entities to disclose the following information for each class of provision:

I. Carrying amount at the beginning and end of the period.

II. Amounts incurred and charged against the provision during the period.

III. Comparative information.

IV. Unused amounts reversed during the period.

V. Additional provisions made during the period.

Option A includes all the required disclosures except for comparative information. Therefore, it is the best choice.

For Each Class of Provision, an Entity Is Required by IAS