高頓網校小編為各位學員整理了ACCA考試F7科目的基礎講義輔導，希望能夠幫助大家更好地復習。
       II. Specific application
　　1. Future operating losses
　　In the past, provisions were recognized for future operating losses on the grounds of prudence. However these should not be provided for the following reasons.
　　①They relate to future events;
　?、赥here is no obligation to a third party. The loss-making business could be closed and the losses avoided.
　　2. Onerous contracts
　　An onerous contract is a contract in which the unavoidable costs of meeting the contract exceed the economic benefits expected to be received under it.
　　A common example of an onerous contract is a lease on a surplus factory. The leaseholder is legally obliged to carry on paying the rent on the factory, but they will not get any benefit from using the factory.
　　The least net cost of an onerous contract should be recognized as a provision. The least net cost is the lower of the cost of fulfilling the contract or of terminating it and suffering any penalty payments.
　　Some assets may have been bought specifically for the onerous contract. These should be reviewed for impairment before any separate provision is made for the contract itself.
　　1Demo
　　Droopers has recently bought all of the trade, assets and liabilities of Dolittle, an unincorporatd business. As part of the take-over all of the combined business’s activities have been relocated at Droopers main site. As a result Dolittle’s premises are now empty and surplus to requirements.
　　However, just before the acquisition Dolittle had signed a three year lease for their premises at $6000 per calendar month. At 31 December 2003 this lease ad 32 months left to run and the landlord had refused to terminate the lease. A sub-tenant had taken over part of the premises for the rest of the lease at a rent of $2500 per calendar month.
　　Required
　　(a) Should Droopers recognized a provision for an onerous contract in respect of this lease?
　　(b) Show how this information will be presented in the financial statements for 2003 and 2004. Ignore the time value of money.
　　Solution:
　　Droopers has a legal obligation to pay a further $192000 to the landlord, as a result of a lease signed before the year end. Therefore an onerous contract exists and must be provided for.
　　There is also an amount recoverable form the sub-tenant of $80000(32×2500). This will be shown separately in the balance sheet as an asset.
　　The $192000 payable and the $80000 recoverable can be netted off in the income statement.
　　income statements　　2003　2004
　　$　$
　　provision for onerous lease contract
　　(net)112000 Dr.　-
　　net rental payable on lease (72-30)　-42000 Dr
　　release of provision　42000 Cr
　　112000 Dr.　-
　　balance sheets
　　receivalbes
　　amounts recoverable from sub-tenants80000 Dr.50000 Dr
　　liabilities
　　amounts payable on onerous contracts192000 Cr120000 Cr