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In case of onerous lease what amount should be recognised as provision i.e
Total of presnt value of future rentals
Or
Total of presnt value of future rentals less present value of any likely/probable future subletting rentals?Total present value of rentals
The income from any likely / probable future sub-lettings is not certain enough to be treated as “virtually certain” and should not therefore be recognised
Ok?
Would Provision for onerous contracts be recognised as current or non current liability?
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