CTHRepealedLegislation
AASB 137 - Provisions, Contingent Liabilities and Contingent Assets - July 2004
Future Operating LossesFuture Operating Losses
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Future Operating Losses
63 Provisions shall not be recognised for future operating losses.
64 Future operating losses do not meet the definition of a liability in paragraph 10 and the general recognition criteria set out for provisions in paragraph 14.
65 An expectation of future operating losses is an indication that certain assets of the operation may be impaired. An entity tests these assets for impairment under AASB 136 Impairment of Assets.