accounting & auditing
This query is : Resolved
21 May 2009
anybody can explain me the difference between amortization & provision & reserves ?
21 May 2009
AMORTIZATION: is writing off some misc asset/ prelim exp/ such
PROVISION: is a charge to profit created for an expense or liability, like prov for contingent liab/ prov for bad debts.
RESERVE : is an appropriation to profit, which is something like you are keeping aside your retained profit for some specified/ unspecified purpose.
PROVISION: is a charge to profit created for an expense or liability, like prov for contingent liab/ prov for bad debts.
RESERVE : is an appropriation to profit, which is something like you are keeping aside your retained profit for some specified/ unspecified purpose.
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