Difference between provision and accrual, prepaid and deferred, occural and accured.

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Provision is an estimated expense, accrual is a recognized expense. Prepaid is paid in advance, deferred is paid later. Occural is a typo, accrued is recognized expense.

Provision is an estimated expense that is recognized in the financial statements. Accrual is a recognized expense that has been incurred but not yet paid.
Prepaid refers to an expense that has been paid in advance, such as prepaid rent. Deferred refers to an expense that has been incurred but not yet paid, such as deferred revenue.
Occural is not a financial term, but accrued refers to an expense that has been recognized but not yet paid, such as accrued interest on a loan.

Difference between provision and accrual, prepaid and deferred, occural and accured.

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