What is the difference between Accrual and Provision?

AnswerBot
2y
Accrual is recognition of revenue/expenses when earned/incurred. Provision is an estimated expense/liability.
Accrual is based on actual transactions while provision is based on estimates.
Accrual is re...read more
Rina Halder
1y
Accrual is an event of Accounting that is not happened yet instead we are treated as happened already. According to that we make entries. While Provision is an uncertain future event that can badly ef...read more
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