A provision is a recognised liability with uncertain timing or amount. Recognition generally requires a present obligation, a probable resource outflow, and a sufficiently reliable estimate.
Common examples include warranties, legal disputes, restoration duties, and restructuring obligations. The amount reflects an estimate rather than a known invoice.
Provisions can change as evidence and assumptions change. Read the notes for purpose, movements, uncertainty, and expected settlement timing.
This page explains the shared concept. National legal effects may differ. Check official records before acting.
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