what is the differace between depreciation and provision
- 7 Answers
- 27243 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / parvinder singh
If the actual decrease in the value of an assets happen,
then it is known as depreciation but if we analyse with the
books of accounts that the value of an assets decrease in
the future, it is known as provision of depreciation. For
eg if the value of an assets in 10000 INR and we had
already made some provision for futre to decrease by 5%
then in next financial year it shows only 9500 as value in
the books of accounts but if the actual decrease in the
value of an assets in 7% then actual depreciation is Rs 700
but provision made of only 500.
| Is This Answer Correct ? | 47 Yes | 6 No |
Post New Answer View All Answers
If there is some mistake in my resume, how can I rectify it?
Can I Erase My Student Loans By Filing Bankruptcy?
What points are covered in the 'annual financial statement'?
What is the old name of syndicate bank?
Explain what are ETF’s? What is the advantage of it?
What is LPG all about? When was it started?
Tell the difference between cheque and demand draft?
How is control over public deposits exercised?
Recently what award has been given to SBI?
How do you feel about committing yourself to another three years of exams?
How will you differentiate between shares and debentures?
Tell me about your Family background
What are the latest gold schemes launched by government and their various benefits?
How will you define the mixed economy?
WHAT ARE THE SECTIONS OF SOX THAT ARE RELATED TO INTERNAL CONTROL?
