0
Reserve is a an amount set aside from the profit when it is calculated. On the other hand provision is an amount charged against profit and loss in order to assist in calculating the accurate profit.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Difference between monetary base and money supply?
MB=CU+DEP (Currency +Deposits) MS=CU+DEP+IR (Currency + Deposits+International Reserves)
What is the difference between 'endorsement' and 'approval'?
what is the difference between approval and endorsement
What is the difference between a tender and auction?
what is the difference between an auction and a tender
What is the difference between qualitative and quantitative forecasting?
what is the difference between qualitative and quantitative
What is the difference between interest and markup?
Difference between interest and mark up
Difference between provision and reserve?
Provisions are charge against profit and Reserves are appropriation of profit.
What is the difference between oil reserves and oil deposits?
Oil Reserves are big and oil deposits are small.
Difference between provision for bad debt and reserve for bad debt?
Provisions and Reserves are the amount setaside out of profits. When the amount is set aside for a particular purpose it is called a provison. Examples for this is Provision for Baddebts and provision for Depreciation and Provision for Discounts on Debtors. when the amount is setaside for particular purpose is called a provision whereas Reserve is the amount setaside out of profit but not for particular purpose. In most cases provision is incorrectly described as Reserve. One cannot create Reserve for baddebts.
What is the difference between delegated reserves and concurrent powers?
sb
What is the difference between an accrued and a provision?
i must say accrued and provision is two different things,accrued is something paid to you but you can spend it,concerning provision is not the same.
What is difference between legal and statutory reserves?
Answer: legal and statutory reserves There is no difference. Both legal and statutory reserves are reserves that must be maintained by law. The previous answer ("Legal reserves are stipulated by law, while statutory reserves are determined in the Articles of Association (the Statute of a company)") is incorrect: the primary meaning of 'statutes' is 'enacted laws'
The difference between primary and secondary reserves?
what are the diffrence between primary reserve and secondary reserve?
What is the difference between reserves and surplus?
A reserve is a planned amount, a surplus is unplanned.
What is difference between provision liability and continget liability?
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.
What is the difference between provision and accrual?
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.
Difference between provision and accrual?
Accrual - means is common word carry farword to next. provision - means is should be payable. Harisha Mundre
What is the difference between retained earnings and reserve?
Retained earnings are current year profit and Reserves are allotted the amount from last year profits as reserves.
