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need help understanding this

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › need help understanding this

Viewing 4 posts - 1 through 4 (of 4 total)
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  • April 13, 2020 at 6:17 pm #568063
    farhaanm
    Participant
    • Topics: 162
    • Replies: 71
    • ☆☆☆

    Coleshill Co is closing down a division. The board has
    prepared detailed closure plans which have been
    communicated to customers and employees.

    is this provision required or not?

    I put the answer provision required but the book says its wrong.

    April 16, 2020 at 7:57 pm #568470
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7079
    • ☆☆☆☆☆

    I think it would be because it is not a present obligation but a future obligation.

    Thanks

    April 20, 2020 at 1:01 am #568793
    mcnorman
    Participant
    • Topics: 6
    • Replies: 12
    • ☆

    Am sorry I didn’t get you – It would be a provision or would be wrong??

    Sorry again, just need that little clarification.

    April 23, 2020 at 8:22 pm #569086
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7079
    • ☆☆☆☆☆

    I personally think it should be a provision but it seems that the answer in the book disagrees. I’d need to see the answer in the book to see why they justify that it isn’t.

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