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Hi Mike,
I am always confused Provision is a NCL or CL, especially when there is a discount rate. Could you please explain more? Thanks, Qin
It depends what sort of provision you are referring to.
Provision for depreciation? Provision for doubtful debts?
Or provision for probable loss of court action.
As for whether it’s long- or short-term, that depends on the provision, what it is providing against, will it continue to exist into the future or is it a one-off, this year, one time only matter that requires a provision this year but probably not next year.
Sorry Qin, can’t answer it more definitively
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