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future losses?

Tigger · 2011-10-27 15:18:31

couple of questions if i decide to take on a premises where i would have a deposit paid as a get out clause in a lease approxx 20k which i would forfeit as full and final if i didn't fulfill the lease (3 years) can i provide for that as a future loss? i'd be pretty sure i won't make the three years or do i have to wait…

27-10-2011 3:18pm

#1

Tigger

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Join Date: October 2005

Posts: 16354

couple of questions

if i decide to take on a premises where i would have a deposit paid as a get out clause in a lease approxx 20k which i would forfeit as full and final if i didn't fulfill the lease (3 years)

can i provide for that as a future loss? i'd be pretty sure i won't make the three years or do i have to wait till i acually incur the loss.
if i can what happens if i dodn't incur the loss

my issue would be that when i incur the loss i'd have no earnings that year so i'd feel the full effect of it.

secondly can i provide for warrentees i give out?
if i feel x% of goods will need repair or replacement do i have to wait for loss to be incured?

thanks

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