what is a difference b/w provision and reserve
Answer Posted / venkatesh
provision and reserves are maintained under the profit and
loss account only.the main differance bet ween the
provision and reserves are
provision:
Provision is created out of profits for the perticular
purpose of exependiture only.
ex:provision for income tax and provision for depreciation
etc...
Reserves:
Reserves are maintained for the purpose of future
obligations.Those reserves are also different types.
Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
How Many Types of Excise Duties?
what is dieerence between capital cpapital structure
why do we charge the depreciation
deffered tax treatment in financial statements
HOW TO MAINTAIN BANK A/C
what is pre post expenses
I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks
what is the use of accounting standards
what is similarites between tata motors and airtel
barwaha
let me know the difference between net cash flow and income
Tell me about how you have left a position better than you found it
after directing tally 9 to calculate interest as per 30 day option basis on a loan account.........,it still calculates interest as per calender month when checked on to display>statements of accounts>interest payable in tally 9 ...where is the error?? how to correct the function.
Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it
Hi friends can you send me the Accounting Interview questions with a interview experienced questions please