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Accrual - means is common word carry farword to next.
provision - means is should be payable.
Harisha Mundre
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∙ 12y ago
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What is the difference between provision and accrual?
Accrual is income earned but not received or expenses incurred but not spent. Provision is making provision from the profit for a specified or known expense which is to be met in unknown future.
What is the difference between Modified accrual and Full accrual method?
What is the difference between Modified accrual and Full accrual method?"
What is Provision for expenses?
I the old days a provision for expenses was an expense accrual that was not posted to creditors but to a liablity provision line. This is a reminiscence of tax accounting. I the old days a provision for expenses was an expense accrual that was not posted tno creditors but to a liablity provision line. This is a reminiscence of tax accounting.
What is difference between accruals and VOWD?
My understanding is Accrual = (VOWD - Actual expenditure)
What is the difference between accrual accounting and matching principle?
Matching principle is the base of accrual accounting system which tells that each revenue earned should be matched with cost spent to earn that revenue so accrual account and matching principle is not different but same thing.
What is the difference between provision and accrual?
Accrual is income earned but not received or expenses incurred but not spent. Provision is making provision from the profit for a specified or known expense which is to be met in unknown future.
What is the difference between Modified accrual and Full accrual method?
What is the difference between Modified accrual and Full accrual method?"
What is Provision for expenses?
I the old days a provision for expenses was an expense accrual that was not posted to creditors but to a liablity provision line. This is a reminiscence of tax accounting. I the old days a provision for expenses was an expense accrual that was not posted tno creditors but to a liablity provision line. This is a reminiscence of tax accounting.
What is difference between accruals and VOWD?
My understanding is Accrual = (VOWD - Actual expenditure)
What is the difference between an accrued and a provision?
i must say accrued and provision is two different things,accrued is something paid to you but you can spend it,concerning provision is not the same.
What is the difference between accrual accounting and matching principle?
Matching principle is the base of accrual accounting system which tells that each revenue earned should be matched with cost spent to earn that revenue so accrual account and matching principle is not different but same thing.
What is the difference between a prepaid account and an accrual account?
In prepaid accounts cash is paid before and benefits are taken later while in accrual accounts benefits are taken before but cash is paid later.
What is difference between provision liability and continget liability?
A provision is when it's grater than 50% chance of happening where as a contingent is less than that. You show a provision on the accounts but not the contingent.
What is the difference btwn Matching Accrual and realization concept?
Accrual concepts use the matching of expenses to get an overall picture of a person's account. A realization concept is based on the results of the accrual process.
Difference between provision and reserve?
Provisions are charge against profit and Reserves are appropriation of profit.
What is the difference between amortization and accrual?
Amortization is the monthly depreciation of an asset that depreciates over time. Accrual is the sum money either earned or owed due to an monthly interest rate over months or years. So amortization does not deal with fiscal money and accrual is sum of money over time that needs to be paid or received (revenue).
What is the difference between provision and payable?
Provision means the expenditure known but not exact amount to be spent that is unknown but payable means the exact amount of expenses knows that is to be paid.
