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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. 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

  4. Fin 48 - Wikipedia

    en.wikipedia.org/wiki/Fin_48

    In addition to accruing the tax, FIN 48 requires disclosures in footnotes to the financial statements. Year end statements must include: A tabular reconciliation of unrecognized tax benefits, The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate, Total interest and penalties recognized in the ...

  5. Here are the major business provisions left out during the ...

    www.aol.com/finance/major-business-provisions...

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  6. Asset retirement obligation - Wikipedia

    en.wikipedia.org/wiki/Asset_retirement_obligation

    The asset is depreciated, usually straight-line, over 40 years (depreciation expense of $32.06 per year). The liability is accreted (interest for each period is calculated and added to the balance), using the interest method. (Accretion expense would be $115.41 the first year, $125.79 the second year, etc.)

  7. End of Trump tax cuts would see 62% pay more—how ... - AOL

    www.aol.com/finance/end-trump-tax-cuts-see...

    One provision that might not get extended: the $10,000 cap on state and local property tax deductions, known as SALT. ... "We encourage them to make the purchase before the end of the year," she ...

  8. Liability (financial accounting) - Wikipedia

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

    Current liabilities – these liabilities are reasonably expected to be liquidated within a year. They usually include payables such as wages , accounts , taxes , and accounts payable , unearned revenue when adjusting entries , portions of long-term bonds to be paid this year, and short-term obligations ( e.g. from purchase of equipment).

  9. Tax tips for HENRYs: 5 end of year moves if you are High ...

    www.aol.com/finance/tax-tips-henrys-5-end...

    Next year, the deal is even better for some savers: Starting in 2025, those aged 60 to 63 can contribute up to $11,250 in extra funds to their 401(k)s. 2. Don't forget about the HSA

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