Pages

Sunday, April 25, 2010

Obligating event

Obligating event is an event that creates a legal or constructive obligation that results in an entity having no realistic alternative to settling that obligation.

Obligating event is specifically discussed in IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

Source: Glossary of Terms of IFRSs as at 31 December 2008.