BC17 Paragraph 69 of IAS 37 requires that, before an entity establishes a provision for an onerous contract, the entity recognises any impairment loss that has occurred on assets ‘used in fulfilling the contract’. Paragraph 69 originally referred to assets ‘dedicated to that contract’. However, the term ‘dedicated’ could be read to apply only to assets used solely on that contract, and not used on other contracts. The Board amended the terminology in paragraph 69 to clarify that the requirement to recognise any impairment loss before establishing an onerous contract provision applies to all assets whose cost would be considered in assessing whether the contract is onerous.