ACCRUAL IS ARISED AND EXACT FIGER OF AMOUNT IS KNOW FOR THE COMPANY
BUT SOME TIMES BASED ON LAST MONTH OR YEARS EXPNSES TAKEN IN TO CONDERATION AND SET ASIDE CERTAIN AMOUNT IS CALLED PROVISION
Originally Posted by SINDHU
Pls advise the difference between accrual vs provisions
Accurals,in contrast, are liabilities to pay for goods or services that have been received or supplied but not have been paid or formally agreed with the suppliers
Acuurals are often considered as part of trade and other payables whereas provisions are reported separately
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