What is difference between Accrual and Provision,provide me
with an example.
Answer Posted / ravinder
accrual is created for incomes, where as provision is created for baddebts.
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
What is the meaning of Receipt & Payment, Income & Expenditure, Profit & Loss A/c? Under What cercumstances these are prepared?
Difference between cash and merchantile system?
Suppose the production is more and sales less then what will happen
What is meant by consignment
why you would like to work for the our(AIRLINE) Group ???
what is the system of accounting and banking in cooperative bank?
what is status report? and flow report?
What is the Memorandum voucher?
Whether the TIN and CST no. remain same for a firm in M.P. state. If a firm ask for CST but having only TIN no. is it correct to entertain his invoice?
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
How to answer for the question, tell me about ur project? I mean in which format can i say?
ACCOUNTING CONCEPTS AND CONVENTIONS
Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
do we have to learn all the shortcutkeys in tally.i am from non commerce background ,where should i start from.
Please suggest the manual records needed to be maintained at NGO/CBO to record the transactions of accounts & inventory. Please also mention the need & purpose of each records/books