Kustannusvaraukset

Kustannusvaraukset, often translated as provision for costs or contingent liabilities, are accounting entries used to recognize potential future expenses that are probable and can be reasonably estimated. These provisions are not for planned expenditures but rather for uncertain future events that may result in a financial obligation for the company. They are a crucial aspect of accrual accounting, ensuring that financial statements reflect a true and fair view of a company's financial position and performance by anticipating potential future outflows of economic resources.

The recognition of a kustannusvaraus requires two conditions to be met. Firstly, there must be a present obligation, arising from a past event. This means that a situation has already occurred that will likely lead to a future cost. Secondly, the outflow of resources to settle the obligation must be probable, meaning it is more likely than not to occur. Additionally, the amount of the obligation must be capable of being estimated with sufficient reliability. If these conditions are not met, no provision is recognized.

Common examples of kustannusvaraukset include provisions for warranties, where a company anticipates future repair costs for products sold, or provisions for legal disputes, where a company faces potential damages from a lawsuit. Restructuring costs, such as those related to employee termination benefits arising from a planned reorganization, are also often recognized as provisions. The amount set aside in a provision is based on the best available estimate of the future outflow. As new information becomes available, these provisions are reviewed and adjusted accordingly, either increasing or decreasing the provision amount. If the obligation no longer exists or the amount can no longer be reliably estimated, the provision is reversed.