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IAS37 warranty provision
11-02-2009, 04:15 AM
Post: #1
IAS37 warranty provision
subjectF7(ACCA)
topicias37 warranty provision

ques a detailed information is given about a shoopkeeper business includes faulty returns past assumption, markup of 40% etc

the requirement is to cal. the amount of provision and in the solution the amount of profit is considered as a provision that should be made
my question is y the author didnt consider faulty returns ???
secondly can a profit be recognize as a provision ????


thank u
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11-13-2009, 02:19 AM
Post: #2
 
The scenario of the question is unclear. To give an opinion one should know the scenario completely.
So it is advised that you should write the complete scenario.
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