https://www.taxtmi.com/acts?id=41015 The Standard requires recognition of a provision only when a present obligation from a past event exists, an outflow of resources is probable and a reliable estimate can be made; contingent liabilities and contingent assets are not recognised but disclosed (subject to remoteness and prejudice exceptions). Provisions are measured as the best estimate before tax, with limited discounting for decommissioning-type liabilities; reimbursements are recognised as separate assets only when virtually certain. en-us Mon, 07 Nov 2022 15:24:12 +0530 Tue, 06 Jan 2026 15:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41015 The Standard requires recognition of a provision only when a present obligation from a past event exists, an outflow of resources is probable and a reliable estimate can be made; contingent liabilities and contingent assets are not recognised but disclosed (subject to remoteness and prejudice exceptions). Provisions are measured as the best estimate before tax, with limited discounting for decommissioning-type liabilities; reimbursements are recognised as separate assets only when virtually certain. Act-Rules Companies Law Mon, 07 Nov 2022 15:24:12 +0530 https://www.taxtmi.com/acts?id=41015