Interested to Buy Any Domain ? << Click Here >> for more details...
What is the difference between provision and payable
- 7 Answers
- 45389 Views
- Amex, AMMEX, I also Faced
- E-Mail Answers
Answer Posted / rashmi
Provisions: It is the estimated amount which is set aside
or retained by a company for meeting the future liability
whose amount cannot be determind with substantial accuracy.
provision are madefor liability which may occur in future.
Examples:Provision for depriciation,Prov For Doubtful
debt,Prov for taxation etc.
Payables:It is the actual amount of liability which has
occured in an accounting year but not paidoff.Its amount is
not estimated it is actual.ITs a company obligation to pay
off a short-term debt to its creditors. The accounts
payable entry is found on a balance sheet under the heading
current liabilities.
| Is This Answer Correct ? | 37 Yes | 5 No |
Post New Answer View All Answers
What do you mean by vouching?
What is the mean of statutory audit?
Whats are the importance of evaluating an internal audit department?
who is the auditor and his deautis
Which books are helpful for practising accounting's most tricky sums?
i need to pay around $90000 to Mr.R and the agreement clause says that any amount payable as tax are not included in the amount.So how much i need to deduct TDS...??
What is vouching?
What are the basic principles of an internal audit controlsystem?
What is the purpose of meeting in audit?
i am working in a company as wholesale in saudi arabia.i am one of the new.we are supplying to some hyper market. they will issue the money as cheque and they will send the cheque amount and invoice details also.then how can i reconcile our statement with use of that cheque details
what is the difference you can make by doing your course in the country of your choice
What is non statutory audit?
is replacement of DVD writer come under fixed assets. I think that it cannot increase earning capacity or it cannot any separate identity.please clarify me
What are the reasons for getting audited?
1.tell me five points of check list of an audit. 2.what do you checking in statutory audit.five main points. 3.what do you checking in internal audit five main points. 4.which five major points checking according to caro.
