Answer / rupali

Reserve means profits set aside for future use.May be for
specific or general purpose. This is a part of
Shareholders' Equity.
Provision is planning for expenses which are due / accrued
in the current year but payable in future / next year.
Hence Reserves & Provisions are not same.

Answer / swapnananda

reserv kept for use in fufure,but provision is an expense
for the organization.reserve and provision is not same.

Answer / ravinder chandel

reserves are used in future,these as remained accourding to
future planing , & provission are used to fulfil present's
exp.which actualy used but not completely.

so reserves are feuture orianted & other end Provissions
are for current exp.

Answer / sahil goel

Reserve is created for unknown liability which is not recognised & it is a part of shareholders' capital .
Provision is created for known liability which may happen in future.

Answer / rangapadmaja

provision is charge on profits

reserve appropriation of profits

Answer / sandhya

Reserve is amount set aside for future expense and
provision is amount paid for future expense.

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