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What is Provision for expenses?
I the old days a provision for expenses was an expense accrual that was not posted to creditors but to a liablity provision line. This is a reminiscence of tax accounting. I the old days a provision for expenses was an expense accrual that was not posted tno creditors but to a liablity provision line. This is a reminiscence of tax accounting.
How do you reflect bonus in profit and loss account?
In the profit and loss account of a business you should accrue for what bonus you expect to pay out over the period it is earned. Obviously if your expected bonus payout fluctuates through the year then the rate of accrual should adjust. For example if a company expects to pay out £120k of bonuses for 2009 which will be paid out in early 2010 then you need to accrue £10k per month during 2009 resulting in a year end accrual of £120k.
What is the difference between Modified accrual and Full accrual method?
What is the difference between Modified accrual and Full accrual method?"
What is cash accrual and its formula?
Cash accrual
What is a consodium?
liablity sharing
What is an example of an accrual error?
what are examples of accrual errors
Is special revenue fund accrual or modified accrual?
Modified
What is sales accrual?
Accrual is a form of record-keeping. Usually, businesses record sales on a cash or accrual basis. Accrual accounting is when sales are recorded when they are made instead of when payment is received.
How can you translate the word accrual into Spanish?
devengo is the spanish word for accrual.
What is contractual liability?
Liablity assumed in a contract.
Is unearned revenue an asset or a liablity?
asset
What are the advantages of modified accrual accounting?
advantage modified accrual accounting in government
