• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App


Remeasurement of provisions [IAS 37.59]
•    Review and adjust provisions at each balance sheet date
•    If an outflow no longer probable, provision is reversed.
then my question is;
- If an outflow 100% sure
 Can the provision be taken as a liability?
in IAS 37 - Provisions, Contingent Liabilities and Contingent Assets by Level 1 Member (1.6k points)

1 Answer

0 votes
In my opinion `Yes' of course. Moment the outflow is 100% sure, the item is crystalized Liability and No question of retaining in `Provision'