Contingent liabilities

Recognition is the process of recording information about an element of a financial statement�� A disclosure is additional information attached to an entity's financial statements, usually as explanation for activities which have significantly influenced the entity's financial results. Contingent Liabilities are disclosed but not recognised

Swetha S

CA Inter

★ 15K+

05-Jun-22 10:02

Need to be disclosedâ?¦..

Swetha S

CA Inter

★ 15K+

05-Jun-22 09:58

The term recognition & disclosure is differentâ?¦You need to be careful while reading

Swetha S

CA Inter

★ 15K+

05-Jun-22 10:00

Both the screenshot you mentioned is correct onlyâ?¦.

Swetha S

CA Inter

★ 15K+

05-Jun-22 10:01

Thanks sis.

Thread Starter

Jitendra Kumar

CA Final

★ 41K+

05-Jun-22 10:03

Need to be disclosed

Pandusml V

CA Final

★ 4K+

08-Jun-22 09:57