Therapix Biosciences Ltd. | CIK:0001611746 | 3

  • Filed: 4/30/2018
  • Entity registrant name: Therapix Biosciences Ltd. (CIK: 0001611746)
  • Generator: GoXBRL
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1611746/000121390018005176/0001213900-18-005176-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1611746/000121390018005176/trpx-20171231.xml
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    • ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory

    q.Provisions:

     

    A provision in accordance with IAS 37 is recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

     

    Following are the types of provisions included in the financial statements:

     

    Legal claims:

     

    A provision for claims is recognized when the Company has a present legal or constructive obligation as a result of a past event, it is more likely than not that an outflow of resources embodying economic benefits will be required by the Company to settle the obligation and a reliable estimate can be made of the amount of the obligation.