If a company determines that a provision has a 51% chance of occurring, would it be required

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If a company determines that a provision has a 51% chance of occurring, would it be required to accrue the provision under IFRS? Under U.S. GAAP? Be sure to explain your answer.

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Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Question Posted: Dec 09, 2013 08:54 AM

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If a company determines that a provision has a 51% chance of occurring, would it be required

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Under IFRS a provision that has a 51 chance of occurring is accrued because IFRS use ...View the full answer

Intermediate Accounting

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