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Difference Between Accrual & Provision

Both these terms are used to record an expense but with a minor difference:

  • Accrual is recorded, when exact amount of expense is known at the time of recording.

For example, when salaries are accrued at the end of month, a definite amount is known. It is, therefore, treated as Accrual.

Provision is made, http://career-development-planning.blogspot.com/2017/11/difference-...

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provision means a liability in which amount or time is uncertain


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