Accrued income is that where income is earned but amount is not received while income in advance is reverse of accrued income where amount is received in advance but services not provided yet.
we dont have an idea either. thanks wharton
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.
Accrual - means is common word carry farword to next. provision - means is should be payable. Harisha Mundre
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
Accrued expenses are those expenses which are incurred but no amount is paid yet. Provisions are created to be adjusted against actual expenses occurs during the fiscal year and advance liability is created in balance sheet.
Accrued income is that where income is earned but amount is not received while income in advance is reverse of accrued income where amount is received in advance but services not provided yet.
A provision is when it's grater than 50% chance of happening where as a contingent is less than that. You show a provision on the accounts but not the contingent.
we dont have an idea either. thanks wharton
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.
Accrual - means is common word carry farword to next. provision - means is should be payable. Harisha Mundre
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
Provisions are charge against profit and Reserves are appropriation of profit.
line orgnization has no provision of syaffs ,whereas line and staff org- has provision of staffs
Provision means the expenditure known but not exact amount to be spent that is unknown but payable means the exact amount of expenses knows that is to be paid.
'Due and accrued' refers to expenses that are both payable and have accumulated over time, while 'accrued and due' refers to expenses that have accumulated but are not yet payable. The difference lies in the order in which the terms are presented, with the emphasis on either the payment due or the accumulation of expenses.
local sports provision is one that contains sports of various districts in a community whereas naational comprises of all districts in a country