Provision - Revision history

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← Older revision		Revision as of 11:59, 14 June 2022
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	* [[Reserve]]		* [[Reserve]]
	* [[Term]]		* [[Term]]
			* [[Use-of-proceeds provision]]
	* [[Zero rate provision]]		* [[Zero rate provision]]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:Compliance_and_audit]]		[[Category:Compliance_and_audit]]

2022-04-29T21:09:01Z

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2022-01-17T22:06:17Z

Expand first definition - source - IAS 37 - https://www.iasplus.com/en/standards/ias/ias37

← Older revision		Revision as of 22:06, 17 January 2022
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	Relevant accounting standards include IAS 37 and Section 21 of FRS 102.		Relevant accounting standards include IAS 37 and Section 21 of FRS 102.


			Under IAS 37, an entity must recognise a provision in its balance sheet if - and only if:

			*A present obligation (legal or constructive) has arisen as a result of a past event (the obligating event), and
			*Payment is probable ('more likely than not'), and
			*The amount can be estimated reliably.


			Under IAS 37, items that fall short of these criteria may be ''possible'' obligations.

			Possible obligations are ''contingent liabilities'' for accounting purposes under IAS 37, disclosed but not accrued / recognised.


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	* [[Anti-avoidance provision]]		* [[Anti-avoidance provision]]
	* [[Bad debt provision]]		* [[Bad debt provision]]
			* [[Balance sheet]]
	* [[Big bath]]		* [[Big bath]]
	* [[Book reserve]]		* [[Book reserve]]
	* [[Call provision]]		* [[Call provision]]
	* [[Carrying amount]]		* [[Carrying amount]]
			* [[Constructive obligation]]
			* [[Contingent liability]]
	* [[Contract]]		* [[Contract]]
	* [[Deficit]]		* [[Deficit]]
	* [[Depreciation]]		* [[Depreciation]]
			* [[Disclosure]]
	* [[FRS 102]]		* [[FRS 102]]
	* [[General provision]]		* [[General provision]]
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	* [[Make whole provision]]		* [[Make whole provision]]
	* [[Net book value]]		* [[Net book value]]
			* [[Obligating event]]
	* [[Prudence]]		* [[Prudence]]
			* [[Recognition]]
	* [[Reserve]]		* [[Reserve]]
	* [[Term]]		* [[Term]]

2020-11-15T15:58:00Z

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2020-10-29T12:12:37Z

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← Older revision		Revision as of 12:12, 29 October 2020
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	1. ''~~Accounting~~ - ~~noun~~''.		1. ''Financial reporting - balance sheet - liabilities''.

	A form of liability where there is uncertainty as to the amount and timing of final settlement.		A form of liability where there is uncertainty as to the amount and timing of final settlement.

2020-05-20T07:49:26Z

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