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Provision

This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.

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November 1, 2021 at 4:05 pm #639691
James124
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If obligation has arised we are unknown of amount but we know that it would occur after 1 year. Would we record it as Non-current Provision or leave it to record as current provision in next account period.
November 2, 2021 at 6:43 am #639723
John Moffat
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This is rather unlikely in real life (and even more unlikely in the exam). You would leave it until the next accounting period.
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