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Accruals and Provisions

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(Querist)
12 June 2010 Dear Freinds,
Please Guide me as I am non Commerce, my question is why it is necessary to Pass the Accrual Entry for Salaries of regular month?
Why Provisions entry is necessay to be passed?
kindly help me.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
13 June 2010 If we are following Mecantile system of Accounting we need to book the expenses and income on accurred basis as when the actual expenses and income incurred or related then only we can arrive the correct profit or loss for the particular period
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