Provisions for liabilities
Errors can arise when:
Support provided by the 24iValue provision calculator ...?
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Next - we are not sure if to establish the provision or recognise a contingent liability
- we have no knowledge of discounting, or calculus of probability
- the time is short and we have to calculate several provisions: holiday leaves, retirement bonus provisions, costs of warranty repairs
- You have scarce information and this is the only thing you can rely on in making the estimates
- You have no opportunity for an independent check of the calculation
Support provided by the 24iValue provision calculator ...?
- with 24iValue you will determine if the provision needs to be established
- you will calculate the provision for holidays or the provision for warranty repairs
- you can calculate the provision for pension benefits
- you will be able to calculate the provision in a short time and on your own basing on tested auditing techniques while minimising the risk of ungrounded provision recognition.
