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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Infosys BPM Accountant interview questions & answers

An Accountant was asked 11mo agoQ. What is Tally?
An Accountant was asked 11mo agoQ. What is your experience using Tally software?
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Popular interview questions of Accountant

An Accountant was asked 10mo agoQ1. What is Tally?
An Accountant was asked 10mo agoQ2. What is your experience using Tally software?
An Accountant was asked 11mo agoQ3. What are Accounts Payable and Accounts Receivable?
Infosys BPM Accountant Interview Questions
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