Provision for onerous contracts...
You can expense a cost to the P&L and put a provision on the balance sheet to pay for the future costs of any onerous contract to which we are committed.
Rules tightened up in the last 10 years though and arguably v high player wages are business as usual!
Posted By: Worthing Yellow on January 8th 2020 at 18:30:53
Message Thread
- Tax on profits ... (NCFC) - loz, Jan 8, 16:58:54
- We must have some brought forward losses (NCFC) - SimonOTBC, Jan 8, 19:06:54
- *up to half (n/m) (NCFC) - SimonOTBC, Jan 8, 19:07:05
- Provision for onerous contracts... (NCFC) - Worthing Yellow, Jan 8, 18:30:53
- Surely a lot can be offset (NCFC) - Duck, Jan 8, 18:24:54
- That money was just resting in my account Dougal. (n/m) (NCFC) - Under soil heating, Jan 8, 17:36:10
- I thought it was an ecumenical matter (n/m) (NCFC) - dennis moore, Jan 8, 19:01:08
- We must have some brought forward losses (NCFC) - SimonOTBC, Jan 8, 19:06:54
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