Provision

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July 13, 2019 at 5:08 pm #522913
sush97
Participant
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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
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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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