reserves and provisions
This query is : Resolved
ankit singh
(Querist)
20 May 2010
differentiate between reserves & provisons
DEEPIKA GOEL
(Expert)
20 May 2010
Reserve is an appropriation of profit whereas the provision is charge to the profit. Provision is negative asset and made for expected losses and contingencies. Reserves is kind of residual earnings after deducting all expenses and provisions.
Excess provisions are reserves.
Excess provisions are reserves.
21 May 2010
agreed.
CA Ravi Sisodia
(Expert)
21 May 2010
Agreed...
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