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Question 
what is the difference between accrual and provision
 Question Submitted By :: Osman7msn
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is the difference between accrual and provision
Answer
# 1		 Accrual is income earned but not received or expenses incurred but not spent. Provision is making provision from the profit for a specified or known expense which is to be met in unknown future. 
Is This Answer Correct ?    14 Yes 1 No
Puneet
 
  Re: what is the difference between accrual and provision
Answer
# 2		 Accrual is income earned but not received or expenses
incurred but not spent. Provision is making provision from
the profit for a specified or known expense pertaining to
the current year. Which may or may not incure in future.
(eg. Prov for Bad Debts, income tax) 
Is This Answer Correct ?    4 Yes 0 No
Harish Singh Bisht
 
 
 

 
 
 
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