On 13thMarch 2020, a decision was made by the board of an entity to close down a division. The decision was not communicated at that time to any of those affected and no other steps were taken to implement the decision by the year end of 30th March, 2020. The division was closed in July, 2020. Should a provision be made at 30th March,2020 for the cost of closing down the division? Explain.

Subject : Financial Reporting