1 This Standard shall be applied by all entities in accounting for provisions, contingent liabilities and contingent assets, except:
(a) those resulting from executory contracts, except where the contract is onerous; and
(b) [deleted]
(c) those covered by another Standard.
2 This Standard does not apply to financial instruments (including guarantees) that are within the scope of IFRS 9 Financial Instruments.
3 Executory contracts are contracts under which neither party has performed any of its obligations or both parties have partially performed their obligations to an equal extent. This Standard does not apply to executory contracts unless they are onerous.
4 [Deleted]
5 When another Standard deals with a specific type of provision, contingent liability or contingent asset, an entity applies that Standard instead of this Standard. For example, some types of provisions are addressed in Standards on:
(a) [deleted]
(b) income taxes (see IAS 12 Income Taxes);
(c) leases (see IFRS 16 Lease
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