If the entity`s previous GAAP had allowed treasury stock (an entity`s own shares that it had purchased) this should be reported as an asset
IAS 39 requires recognition of all derivative financial assets and liabilities, including embedded derivatives. These were not always recognised under many local GAAPs
IAS 37 requires recognition of provisions as liabilities. Examples could include an entity`s obligations for restructurings, onerous contracts, decommissioning, remediation, site restoration, warranties, guarantees, and litigation
IAS 19 requires an employer to recognise its liabilities under defined benefit plans. These are not just pension liabilities but also obligations for medical and life insurance, vacations, termination benefits, and deferred compensation. In the case of `over-funded` plans, this would be a defined benefit asset