prasad Nilugal
( GST Practitioner & Accounts )
(14163 Points)
Replied 17 March 2019
provisions
provisions are amount charged against revenue to provide for know liability .
Reserve
Reserves are amount appropriated out of profit which are not intended to meet any liability , contingency , commitments exits as on date of Balance Sheet .
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"