The term ‘probable” in accounting means that a future event is more likely to occur than not.
The term ‘probable” is specifically discussed in:
- IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets
Source: Glossary of Terms of IFRSs as at 31 December 2008.
