provision

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.

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August 2, 2021 at 10:01 am #630103
Noah098
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sir provision should be recognised based on actual cost, as far as IAS 37 is considered. but sir if the actual cost is only aviable after the authorisation of FSs then what do we do? adjusting event or non-adjusting event?
August 2, 2021 at 11:01 am #630110
Stephen Widberg
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SFP will show an estimate.

Difference between estimate and actual cost goes in next year’s P&L

No point in using jargon such as adjusting etc as you will confuse yourself and the marker
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