what is the differace between depreciation and provision
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Answer Posted / bloody idiot
Depriciation is provided as a cost throught life of the
Asset, It is a nominal charge for Utilisation of the Asset
and represnts reduction in the Value of the Asset
throughout its life.
Provision for Depriciation is the expense provided for in
the current Financial Year in the absense of Actual
Depriciation. In the next year the actual Depriciation of
Prev. year is reduced from Book Value and also reduced from
Liability(Provision)
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