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Provision

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Provision

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  • July 13, 2019 at 5:08 pm #522913
    sush97
    Participant
    • Topics: 28
    • Replies: 9
    • ☆

    Hello,

    Can we say provision is a contingent liability unless it can be measured reliably?

    July 17, 2019 at 4:29 pm #524066
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7060
    • ☆☆☆☆☆

    Hi,

    If we cannot measure the amounts reliably then we cannot recognise a provision. A contingent liability will be disclose unless the outcome is remote.

    Thanks

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