ICAEW.com works better with JavaScript enabled.

FRS 12: Provisions, contingent assets and contingent liabilities

The accounting standard FRS 12 sets out the criteria for recognising provisions. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

What's on this page?

  • Full-text standard
  • Summaries
  • ICAEW guidance and support
  • Online articles
  • Articles and books from the Library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com
T  +44 (0)20 7920 8620
F  +44 (0)20 7920 8621

Full-text standard

Financial Reporting Standard 12: Provisions, Contingent Liabilities and Contingent Assets
This is the full text of the original standard as issued by the Accounting Standards Board in September 1998. It does not include the amendments made by FRS 17, FRS 21 and FRS 26.

A consolidated version of the standard which includes these amendments is available from the Library. Please contact us by phone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com for more information.

Amendments

FRS 12 was amended by FRS 17: Retirement BenefitsFRS 21: Events After the Balance Sheet Date and FRS 26: Financial Instruments: Recognition and Measure.

Summaries

Provisions, Contingent Liabilities and Contingent Assets
Summary published by the Financial Reporting Council.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

New UK GAAP

Provisions and contingencies are covered by Section 21 of FRS 102.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.