If Just term 'Current liabilities' is mentioned in any Accounting Equation or formula, does it implictly include provisions also?
provisions is not included in current liabilities. Provisions is rather a deduction from debtors from current asset in the balance sheet.
It is a good question. I believe the hope of redumption should determine the location whether you add it with the current liablities or substract it from the current assets. Other factors for conisderation is the size of the provision and Schedule of Capex in an organisation could be the other.
If the question relates to provisions regulated - for example - by IAS 37, then it depends on the accounting system you use. According to the IFRSs it partially does, while of course it does not include long-term provisions recognised.
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