- This topic has 1 reply, 2 voices, and was last updated 6 years ago by
P2-D2.
P2-D2.Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
Muslim Farooque
- Topics: 190
- Replies: 134
- ☆☆☆
for example if a company is looking too get out of a lease agreement and lease term has 3 years left and books a provision for it based on 3 years payment,
now can we call it a provision for onerous contract? and is the provision correct accounting treatment
P2-D2
- Topics: 4
- Replies: 6301
- ☆☆☆☆☆
Hi,
Yes, if we cannot get out of the contract and if there is no option to sub-let the property then we provide for the remaining years on the lease.
Thanks
P2-D2Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.