what is the difference between statutory audit and non statutory audit.
When there is inconsistency between a statutory provision and a common law principle, the statutory provision typically prevails. This is because statutes are enacted by legislatures and have the force of law, whereas common law principles are derived from judicial decisions and may be overridden by legislation.
one is and one isnt
A statutory body deals with written law; non-statutory deals with implied law.
the difference between edit categories
the difference between edit categories
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.
Statutory rights are rights that are established by laws or statutes, such as labor laws or consumer protection laws. Non-statutory rights are rights that are not specifically defined by law but may arise from common law principles or agreements between parties. The main difference is that statutory rights are clearly defined by written laws, whereas non-statutory rights rely on other sources for recognition and enforcement.
What is the difference between dependant and independent events in terms of probability
What is the difference between an independent co-executor and a co-executor
Statutory would be those mandated by law, voluntary would be those agreed upon between employer and employee.
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.