If a company is using IFRS, under what circumstances are a contingent loss and the related liability

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If a company is using IFRS, under what circumstances are a contingent loss and the related liability recorded in the accounts? How is IFRS different from ASPE in this respect?
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Accounting Principles Part 2

ISBN: 978-1118306796

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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