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John Moffat.
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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Provision
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.
This is rather unlikely in real life (and even more unlikely in the exam). You would leave it until the next accounting period.