Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37) – (02-01-2019)

Introduction In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The amendments specify the costs an entity includes in determining the ‘cost of fulfilling’ a contract for the purpose of assessing whether a contract is onerous. Invitation to comment ASB invites comments on the Exposure Draft from the public. The downloadable version is available at:https://resource.cdn.icai.org/53550asb42970.pdf How to comment Comments should be submitted using one of the following methods, so as to be received not later than February 28, 2019.

1. Electronically: Visit at the following link (Preferred method): http://www.icai.org/comments/asb/ 2. Email: Comments can be sent to: commentsasb@icai.in 3. Postal: Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002 Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in

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