[mpemberton]

Hi John,

Thank you for your reply and for the clarification between an accrual (we are certain that we will owe money) and a provision (we might owe money but are not certain).

Yes, I’m currently watching the lectures on accruals and IAS 37 which is how my question arose as I wasn’t clear on the distinction between the two.

Thanks again.

Kind regards

Michael

[Author]

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