《畢馬威：2024會計準則重大變化變動：對《國際會計準則第37號》的修訂建議（英文版）（13頁）.pdf》由會員分享，可在線閱讀，更多相關《畢馬威：2024會計準則重大變化變動：對《國際會計準則第37號》的修訂建議（英文版）（13頁）.pdf（13頁珍藏版）》請在三個皮匠報告上搜索。

1、Provisions Major accounting changes on the horizonProposed amendments to IAS 20242 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedProvisions Major accounting changes on the horizonWhats the issue?As the business world evolves,companies may face additional challenges when

2、 accounting for more complex transactions and uncertainties.Accounting for provisions is one such area that has prompted the following long-standing questions.How do you determine if a present obligation exists and when do you recognise a provision?Which costs do you include in measuring a provision

3、?Which rate do you use in discounting a long-term provision?In response,the International Accounting Standards Board(IASB)is proposing to clarify the related requirements in IAS 37 Provisions,Contingent Liabilities and Contingent Assets and withdraw IFRIC 21 Levies.Whats the impact?Under the proposa

4、ls:some provisions could be recognised earlier,progressively;and some provisions may become larger.The impact of the proposals would depend on the nature of a companys obligations and its existing accounting policies.New judgements would be required e.g.to estimate whether future thresholds are expe

5、cted to be met for threshold-based obligations.Companies should:consider the proposals;assess their potential impact;andprovide feedback to the IASB.Use this guide to help with the analysis.Whats next?.Which three key areas do the IASBs proposals address?When to recognise a provisionThree new tests

6、for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event test What is proposed for threshold-based obligations?Which costs to include in measuring a provisionWhich rate to use in discounting a long-term provision

7、At a glance:Revised guidance for recognising provisions Keeping in touch3 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedWhich three key areas do the IASBs proposals address?How to determine if a present obligation exists and when to recognise a provisionWhich costs to i

8、nclude in measuring a provisionWhich rate to use in discounting a long-term provision!Under the IASBs proposals,some provisions could be recognised earlier,progressively,and some provisions may become larger.Which three key areas do the IASBs proposals address?What is proposed for threshold-based ob

9、ligations?At a glance:Revised guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionThree new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event tes

10、t When to recognise a provisionWhich costs to include in measuring a provision4 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedUnder IAS 37,a company recognises a provision if and when:it has a present obligation arising from a past event(Criterion 1);an outflow of econo

11、mic resources is probable(Criterion 2);andthe amount can be estimated reliably(Criterion 3).When to recognise a provisionYes or 50%likelyYesCurrent requirementsProposed requirementsDoes the company have an obligation?Is the obligation to transfer an economic resource?Is it a present obligation as a

12、result of a past event?Does a present obligation exist?Criterion 1Is an outflow of resources probable?Can the amount be estimated reliably?Recognise a provisionCriterion 2*Criterion 3*YesThree new tests would apply under Criterion 1Applying Criterion 1 has prompted questions from companies,particula

13、rly in relation to climate-related commitments and threshold-based obligations.In response,the IASB is proposing:three new tests under Criterion 1 to determine whether a present obligation exists;specific guidance for threshold-based obligations;andnew illustrative examples to replace IFRIC 6 Liabil

14、ities arising from Participating in a Specific Market Waste Electrical and Electronic Equipment and IFRIC 21.*The proposals generally do not impact Criterion 2 and Criterion 3.Which three key areas do the IASBs proposals address?What is proposed for threshold-based obligations?At a glance:Revised gu

15、idance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionThree new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event test When to recognise a provisionW

16、hich costs to include in measuring a provision5 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedDoes the company have a practical ability to avoid the responsibility if it obtains benefits or takes action?Currently,a company considers its ability to avoid settling its obl

17、igation when determining whether it has a present obligation arising from a past event.Under the proposals,the test will shift from the ability to avoid the transfer of economic resources to the practical ability to avoid the obligation under the law or another specific mechanism.As a result,compani

18、es may need to recognise some provisions progressively and at an earlier date.Does the company have an obligation?Is the obligation to transfer an economic resource?Is it a present obligation as a result of a past event?Under the proposals,in determining whether it has an obligation,a company would

19、need to answer the following three questions.Three new tests for present obligations:Obligation test Is there a mechanism that imposes a responsibility if the company obtains specific economic benefits or takes action?Does the company owe that responsibility to another party?.Which three key areas d

20、o the IASBs proposals address?When to recognise a provisionThree new tests for present obligations:Obligation test What is proposed for threshold-based obligations?At a glance:Revised guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionThree new

21、tests for present obligations:Transfer test Three new tests for present obligations:Past event test Which costs to include in measuring a provision6 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedThree new tests for present obligations:Transfer test The proposals introdu

22、ce a new,specific test,which would require a company to assess whether:This new test does not consider the probability of the transfer,which remains part of Criterion 2 i.e.whether an outflow of resources is probable.A transfer of economic resources is not an exchange of economic resources,unless th

23、e terms of the exchange are unfavourable to the company.A transfer may also be contingent upon a specific uncertain future event.its obligation has the potential to require the company to transfer an economic resource;andthe transfer of economic resources is to another party.Which three key areas do

24、 the IASBs proposals address?When to recognise a provisionWhat is proposed for threshold-based obligations?At a glance:Revised guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionDoes the company have an obligation?Is the obligation to transfer a

25、n economic resource?Is it a present obligation as a result of a past event?Three new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event test Which costs to include in measuring a provision7 2024 KPMG

26、IFRG Limited,a UK company limited by guarantee.All rights reservedThree new tests for present obligations:Past event test Under current IAS 37,a past event is considered to arise at a point in time regardless of its nature.Under the proposals,if a company obtains economic benefits or takes the actio

27、n over time,then the present obligation would arise over time.The proposals shift the focus from an event at a point in time that creates an obligation to an activity that contributes to an obligation.Under the proposals,a company has a present obligation as a result of a past event if it has:obtain

28、ed economic benefits or taken action;andconsequently,will or may need to transfer an economic resource.Which three key areas do the IASBs proposals address?When to recognise a provisionWhat is proposed for threshold-based obligations?At a glance:Revised guidance for recognising provisions Keeping in

29、 touchWhich rate to use in discounting a long-term provisionDoes the company have an obligation?Is the obligation to transfer an economic resource?Is it a present obligation as a result of a past event?Three new tests for present obligations:Obligation test Three new tests for present obligations:Tr

30、ansfer test Three new tests for present obligations:Past event test Which costs to include in measuring a provision8 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedIAS 37 currently provides no specific guidance on threshold-based obligations and instead,companies apply I

31、FRIC 21.Under IFRIC 21,a company recognises recurring periodic levies at a single point in time when the threshold is reached.If a levy is dependent on multiple specific actions,then a liability arises when the last action is taken.Under the proposals,a present obligation would accumulate as the com

32、pany carries out the activity linked to the threshold that it expects to exceed at the end of the compliance period.For example,in relation to an emissions obligation,a present obligation would arise as the company emits pollutants if it expects to exceed the threshold for the compliance period.It w

33、ould recognise a provision if Criteria 2 and 3 are also met.If a transfer of economic resources is dependent on multiple specific actions,then a company incurs a present obligation when it takes the first action and has no practical ability to avoid taking the other actions.This means that a company

34、 would recognise some provisions earlier and progressively.What is proposed for threshold-based obligations?The proposals shift the focus from the threshold being exceeded to the activity the threshold is linked to e.g.shifting from exceeding the emissions threshold to emitting pollutants.They would

35、 also require management to make new judgements and estimates throughout the reporting period,including whether a threshold will be exceeded.Which three key areas do the IASBs proposals address?When to recognise a provisionWhat is proposed for threshold-based obligations?At a glance:Revised guidance

36、 for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionProposed requirements|Proportion of expected excessCurrent requirements|Actual excessActual emissions|IllustrationProvisionProvisionCO2 emissionsThree new tests for present obligations:Obligation test T

37、hree new tests for present obligations:Transfer test Three new tests for present obligations:Past event test Which costs to include in measuring a provision9 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedIAS 37 provides no specific guidance on which costs to include in

38、measuring a provision.Therefore,companies approaches vary depending on the nature of the provision and their accounting policy.For example,a provision for an onerous contract generally includes incremental costs and an allocation of other direct costs.This is consistent with the test for determining

39、 whether a contract is onerous.Conversely,a provision for a legal claim may include only incremental costs relating to payments to external lawyers and the claimant.Under the proposals,a company would include all direct costs when measuring any provision.These costs would include:incremental costs;a

40、ndan allocation of other costs that relate directly to settling the obligation.The proposals could cause some provisions to become larger e.g.those currently measured using incremental costs only.For example,a provision for a legal claim would include an allocation of internal legal team payroll cos

41、ts and other related costs in addition to amounts paid to external lawyers and the claimant.Companies may require new processes to identify all direct costs and an allocation method.Which costs to include in measuring a provisionCurrent practice|Measurement varies based on natureProposed requirement

42、s|All direct costs Provision includes costs determined on a different basisProvision includes only incremental costsProvision includes all direct costs.Which three key areas do the IASBs proposals address?When to recognise a provisionWhat is proposed for threshold-based obligations?At a glance:Revis

43、ed guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provisionThree new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event test Which costs to include in

44、 measuring a provision10 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedRf+%To reflect the time value of money in measuring a provision,IAS 37 requires companies to use a pre-tax discount rate that reflects the risks specific to the liability.The approach to determining

45、that rate varies between companies because the accounting standard provides no detailed guidance.Some companies use a risk-free rate;others adjust the rate for non-performance or their own credit risk.Under the proposed approach,a company would use a risk-free rate.It would make no further adjustmen

46、ts e.g.for non-performance or own credit risk.The proposals could cause some provisions to become larger e.g.those currently measured at risk-adjusted discount rates.They could also cause provision amounts to become material and require recognition.For example,if a company measures a decommissioning

47、 provision for such work in the distant future at a risk-adjusted discount rate,then it may consider this amount currently as immaterial.Which rate to use in discounting a long-term provisionCurrent practice|MixedProposed requirements|Risk-free rate onlyRisk-free rateRisk-free rate+Non-performance/c

48、redit risk/other adjustmentsvsRisk-free rateRfRf+%RfRisk-free rate+Non-performance/credit risk/other adjustments.Which three key areas do the IASBs proposals address?What is proposed for threshold-based obligations?Which rate to use in discounting a long-term provisionAt a glance:Revised guidance fo

49、r recognising provisions Keeping in touchThree new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obligations:Past event test When to recognise a provisionWhich costs to include in measuring a provision11 2024 KPMG IFRG

50、 Limited,a UK company limited by guarantee.All rights reservedAt a glance Revised guidance for recognising provisionsDoes a present obligation exist?Is an outflow of resources probable?Can the amount be estimated reliably?Recognise a provisionYesYesCriterion 1Criterion 2Criterion 3Does the company h

51、ave an obligation?Is the obligation to transfer an economic resource?Is it a present obligation as a result of a past event?+Yes or 50%likelyNo liability or contingent liabilityContingent liability Do not recognise but may need to discloseNo50%likelyNoNo(rare).Which three key areas do the IASBs prop

52、osals address?What is proposed for threshold-based obligations?At a glance:Revised guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provision?Three new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test

53、Three new tests for present obligations:Past event test When to recognise a provisionWhich costs to include in measuring a provision12 2024 KPMG IFRG Limited,a UK company limited by guarantee.All rights reservedKeeping in touchWhether you are new toIFRS Accounting Standards or IFRS Sustainability Di

54、sclosure Standards,or a current user,you can find digestible summaries of recent developments,detailed guidance on complex requirements,and practical tools such as illustrative disclosures and checklists.Connected Reporting TodayAligning your strategic,sustainability and financial informationInsight

55、s into IFRSHelping you apply IFRS Accounting Standards to real transactions and arrangementsGuides to financial statementsIncluding past guides and sector supplementsISSB Standards TodayInsights and guidance on IFRS Sustainability Disclosure StandardsUncertain times hubThe financial reporting impact

56、sIFRS toolkitKPMG insights on applying IFRS Accounting StandardsFollow KPMG IFRS on LinkedIn or visit TodayOur latest insights and guidance on IFRS Accounting StandardsClear on climate reporting hubThe financial reporting impacts.Which three key areas do the IASBs proposals address?What is proposed

57、for threshold-based obligations?At a glance:Revised guidance for recognising provisions Keeping in touchWhich rate to use in discounting a long-term provision?Three new tests for present obligations:Obligation test Three new tests for present obligations:Transfer test Three new tests for present obl

58、igations:Past event test Which costs to include in measuring a provisionWhen to recognise a name:Provisions Major accounting changes on the horizonPublication number:137881Publication date:November 2024 2024 KPMG IFRG Limited,a UK company,limited by guarantee.All rights reserved.The KPMG name and lo

59、go are trademarks used under license by the independent member firms of the KPMG global organization.KPMG International Standards Group is part of KPMG IFRG Limited.KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited(“KPMG International”),each o

60、f which is a separate legal entity.KPMG International Limited is a private English company limited by guarantee and does not provide services to clients.For more detail about our structure please visit information contained herein is of a general nature and is not intended to address the circumstanc

61、es of any particular individual or entity.Although we endeavour to provide accurate and timely information,there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.No one should act upon such information without a

62、ppropriate professional advice after a thorough examination of the particular situation.This publication contains copyright material of the IFRS Foundation.All rights reserved.Reproduced by KPMG IFRG Limited with the permission of the IFRS Foundation.Reproduction and use rights are strictly limited.

63、For more information about the IFRS Foundation and rights to use its material please visit www.ifrs.org.Disclaimer:To the extent permitted by applicable law the IASB,the ISSB and the IFRS Foundation expressly disclaims all liability howsoever arising from this publication or any translation thereof

64、whether in contract,tort or otherwise(including,but not limited to,liability for any negligent act or omission)to any person in respect of any claims or losses of any nature including direct,indirect,incidental or consequential loss,punitive damages,penalties or costs.Information contained in this p

65、ublication does not constitute advice and should not be substituted for the services of an appropriately qualified professional.ISSBTM is a Trade Mark and IFRS,IASB,IFRIC,IFRS for SMEs,IAS and SIC are registered Trade Marks of the IFRS Foundation and are used by KPMG IFRG Limited under licence subject to the terms and conditions contained therein.Please contact the IFRS Foundation for details of countries where its Trade Marks are in use and/or have been registered.