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2. Provision (accounting) - Wikipedia

   en.wikipedia.org/wiki/Provision_(accounting)

   In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement .

3. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.

4. IAS 37 - Wikipedia

   en.wikipedia.org/wiki/IAS_37

   IAS 37 establishes the definition of a provision as a "liability of uncertain timing or amount", and requires that all the following conditions be fulfilled before a provision can be recognized: the entity currently has a liability as a result of a past event; an outflow of resources is likely to be needed to settle the liability; and

5. How to Analyze a Balance Sheet - AOL

   www.aol.com/analyze-balance-sheet-193300468.html

   Real-life examples to help investors make sense of this ... Fool analyst Jim Gillies joins host Ricky Mulvey for an in-depth look at how investors can understand a company's balance sheet. Heads ...

6. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/accounts-payable-recorded-balance...

   For example, if you purchased a $500 tool with a credit from a vendor, you can include that tool as an asset in your balance sheet. In the liabilities section of your balance sheet, you can add ...

7. Liability (financial accounting) - Wikipedia

   en.wikipedia.org/wiki/Liability_(financial...

   Liabilities of uncertain value or timing are called provisions. When a company deposits cash with a bank, the bank records a liability on its balance sheet, representing the obligation to repay the depositor, usually on demand. Simultaneously, in accordance with the double-entry principle, the bank records the cash, itself, as an asset. The ...

8. Asset retirement obligation - Wikipedia

   en.wikipedia.org/wiki/Asset_retirement_obligation

   Firms must recognize the ARO liability in the period in which it was incurred, such as at the time of acquisition or construction. The liability equals the present value of the expected cost of retirement/remediation. An asset equal to the initial liability is added to the balance sheet, and depreciated over the life of the asset. The result is ...

9. What is the Federal Reserve’s balance sheet? - AOL

   www.aol.com/finance/federal-balance-sheet...

   The Fed’s balance sheet is important for monetary policy because officials use it to influence the longer-term interest rates that its key benchmark interest rate — the federal funds rate ...