A provision is an expenditure relating to a particular accounting period, but not falling due on the date of financial statements. Since the expenditure relates to a particular financial period, a ...

The International Accounting Standards Board is looking for feedback on some targeted improvements it's proposing to make to improve the requirements for recognizing and measuring provisions on ...

Bloomberg Industry Group has acquired Tax Prodigy’s software, which calculates income tax related elements of financial statements. The product will be folded into Bloomberg Tax & Accounting’s ...

Financial statements report a company's performance for specified time periods. In comparison, the revenue and expense activities of a company are fluid; they overlap the time periods of financial ...

Bajaj Auto Ltd on Monday said due to withdrawal of the indexation benefit and change in tax rate, the accounting provision for deferred tax on investment income needs to be restated. The Finance (No.

First Bancorp in San Juan, Puerto Rico, has disclosed a problem with the way it calculates its provision for problem loans. The $12 billion-asset First Bancorp said in i ts recently filed 10-K that ...