https://www.taxtmi.com/manuals?id=1913 Provision recognition standards require a present obligation from a past event, an outflow that is reasonably certain, and a reliable estimate. ICDS X disallows discounting and recognises contingent assets and reimbursements when inflow or recovery is reasonably certain, whereas AS 29 and Ind AS 37 apply probability/virtual certainty thresholds and permit discounting when the time value of money is material. Scope exclusions mirror across the frameworks for financial instruments, executory contracts (except onerous), insurance contracts and matters covered by other standards. en-us Sat, 14 Jan 2023 11:45:00 +0530 Fri, 30 Jun 2023 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1913 Provision recognition standards require a present obligation from a past event, an outflow that is reasonably certain, and a reliable estimate. ICDS X disallows discounting and recognises contingent assets and reimbursements when inflow or recovery is reasonably certain, whereas AS 29 and Ind AS 37 apply probability/virtual certainty thresholds and permit discounting when the time value of money is material. Scope exclusions mirror across the frameworks for financial instruments, executory contracts (except onerous), insurance contracts and matters covered by other standards. Manuals Income Tax Sat, 14 Jan 2023 11:45:00 +0530 https://www.taxtmi.com/manuals?id=1913