Menu
Treatment of provisions
What is the difference between provisons in profit and loss account and provisons in balance sheet of a company
Replies (1)
Hi,
In Financial accounting the word " provision " refers to P&L only not balance sheet.In the journal entry point of view one leg may hit P&L and the other leg may hit balance sheet.
I am not sure, opinions and ideas are welcome......
Recent Topic
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
Related Topics
CAclubindia
