Derivatives Difference between reserve and provision Reasons for intercompany differences Deferred tax meaning Way of creating deferred tax assets and liability How we can write-off deferred tax asset

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The difference between reserve and provision, reasons for intercompany differences, deferred tax meaning, creating deferred tax assets and liabilities, and writing off deferred tax assets.

Reserve is an appropriation of profits for a specific purpose, while provision is a charge against profits for an anticipated expense.
Intercompany differences can arise due to different accounting policies, timing differences, or errors in consolidation.
Deferred tax refers to the future tax consequences of temporary differences between accounting and tax rules.
Deferred tax assets are created when tax deductions or credits exceed taxable income, while deferred tax liabilities arise when taxable income exceeds deductions or credits.
Deferred tax assets can be written off if it is more likely than not that they will not be realized in the future.

Derivatives Difference between reserve and provision Reasons for intercompany differences Deferred tax meaning Way of creating deferred tax assets and liability How we can write-off deferred tax asset

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