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Provision made resulting from an onerous Contract (according to IAS 37) - would it be amortized or keep as it is or any other Solutions available?
in IAS 37 - Provisions, Contingent Liabilities and Contingent Assets by Level 1 Member (1.6k points)

1 Answer

0 votes
Provision for an onerous contract is recognised on the best estimate of the unavoidable costs.

It is therefore appropriate to reassess the estimate annually to determine if there are changes in estimate.

I hope it is clear.
by Level 3 Member (5.7k points)