26
Sep
A company knows that a government charge is coming. It has operated throughout the year. Revenue has been earned. The business has benefited from the market activity that the government intends to levy. However, the legislation says the final payment becomes due only if a particular condition is met later. Does the company already have a liability? That question sounds straightforward until IAS 37, legislation, thresholds and the timing of the relevant activity all begin pulling in different directions. It is one reason provisions are back on the IASB's agenda. The Board has been working on targeted improvements to IAS…