1.
Whether the company should accrue, disclose or not report at all the contingency in the financial statement dated 31st December 2018 under IFRS.
Given information:
Company G has gone through a case in which Company P sued for patent infringement. As of December 31st, 2018, the case was in the early stage and the company believed that they are likely to win. By the end of the year 2019, the case progressed and
2.
How the contingency should be reported as of December 31st, 2019 under IFRS.
3.
How the contingency should be reported as of December 31st, 2020 under IFRS.
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Intermediate Accounting
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