COVID-19 spreads around the world. As an urgent response, many companies provided financial assistance to the victims that were involved in the disaster. Under big social pressure, the CEO of Coles made a public announcement that Coles would match the financial assistance provided by other firms in the same industry to victims of the disaster.

Required:

With reference to the definition and recognition criteria in the AASB Framework, discuss whether Coles should recognize a liability on its Balance Sheet.

....AASB framework i dont have clear thought, how to explian it..thank you.