Provision
This query is : Resolved
Guest
Guest
(Querist)
08 May 2013
wat would be d accounting entry for write back of unwanted provision?
08 May 2013
just reversal of entry .
Guest
Guest
(Querist)
08 May 2013
u mean expense of current year wil be reduced by the amount of reversal.
09 May 2013
yes sir, it will be reduced
Guest
Guest
(Querist)
09 May 2013
but d current year exp wil not reflect correct position
09 May 2013
change in accounting estimate, of the % in provision
Message likes :
1 times
24 June 2013
Liabilities written off Credited
Various creditors debit
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Liabilities written of Debit
Profit & Loss Crdit
Various creditors debit
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Liabilities written of Debit
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