Recognition of provisions: present obligation, probable outflow and reliable estimate trigger recognition; otherwise disclose contingent liabilities. This Standard prescribes when to recognise and how to measure provisions, and how to treat contingent liabilities and contingent assets: recognise a provision only if a present obligation from a past event exists, an outflow of resources is probable, and a reliable estimate can be made; otherwise disclose a contingent liability unless outflow is remote. Measurement is the best estimate of settlement cost (before tax), informed by management judgment and evidence, excluding gains on expected asset disposals; virtually certain reimbursements are recognised as separate assets. Detailed disclosure and special rules for restructurings, onerous contracts, warranties, guarantees and legal claims are required.