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meaning of accural

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(Querist)
02 December 2008 hi

what is accural and how does it differ from provisons
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Deepak Agrawal

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Deepak Agrawal (Expert)
03 December 2008 Provision arises because of accrual system. Its not different from accrual.

Accrual means recognising the income & expense in the period in which it is done, irrespective of any cashf outflow or inflow.
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sriram

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sriram (Querist)
03 December 2008 Hi

I need to know the differences between the provision and accural bcos at the month end closing people used to say pass the accural entry. could you please explain me in brief with an example
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P.Gopinath

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P.Gopinath (Expert)
03 December 2008 Every month Provision can be made for PF,ESI etc.The provision can be equal to amount payable.
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sriram

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sriram (Querist)
04 December 2008 hi

any further advice on this topic
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