What is difference between Accrual and Provision,provide me
with an example.
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Accrual means Income that is to be earn to current
financial year but received AFTER Financial year it always
concern with income whereas Provision is always concern with
liablities and its means is bill will be received AFTER
FINANCIAL Yr but Exp will be for Current financial year.
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Answer / ravinder
accrual is created for incomes, where as provision is created for baddebts.
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I work in a semi govt society. We purchased a flag for celebrating independence day in office premises . Plz tell me under what head / ledger of exp it comes
EXPAND______________OLTAS
EXPAND___________NSDL
expand-------TSR
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