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Funding a business
Amortisation of intangible assets
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[QUOTE="Yakub02, post: 309246, member: 94426"] Provisions differ from other liabilities because there is uncertainty about the timing or amount of the future cash flows required to settle the liability. Recognition criteria for provisions A provision should be recognised when: a company has a present obligation (legal or constructive) as a result of a past event; it is probable that an outflow of economic benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the obligation. If one of these conditions is not met, then a provision cannot be recognised. The amount recognised as a provision must be the best estimate, as at the end of the reporting period, of the future expenditure required to settle the obligation. (This is amount that the company would have to pay a third party to take the obligation off its hands [/QUOTE]
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