Citation:Sewwanthi, A.V.H. & Kawshalya, M.D.P. 2016. Non-Recognition of Provision for Obligations. Case Studies in Accounting “Bridging the Gap”, 03: pp. 20-21. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.
Date:2016
Abstract:
XYZ is a company which is incorporated in implementing many projects in Sri
Lanka. Under that there is a project which is engaging in providing credit
guarantees to Participating Financial Institutions (PFIs). In this article included
an issue related with the Identification of provision separately from contingent
liability with the analysis in accordance with the LKAS and provides relevant
accounting treatments.
