What is the difference between a provision and an accrual?
Question:
What is the difference between a provision and an accrual?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
The main difference between a provision and an accrual is the degree of certainty about the future o...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
-
What is the difference between an accrual and a deferral?
-
What is the difference between an accrual and a deferral?
-
As a result of the recent mortgage crisis, many banks reported record losses to their mortgage receivables and other assets based on the decline in these assets fair values. Requirements 1. What...
-
Indicate whether each of the following types of organizations is characterized by a high, low, or moderate degree of conversion. a. Textbook publisher b. Convenience store c. Sporting goods retailer...
-
Early in the year Debra Deal and several friends organized a corporation called Markup, Inc. The corporation was authorized to issue 100,000 shares of $100 par value, 5 percent cumulative preferred...
-
Understand the fi ve ways to validate a test
-
Phigam Steel purchases a machine on January 1 for $30,000. The machine has an estimated useful life of seven years, during which time it is expected to produce 114,800 units. Salvage value is...
-
Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following...
-
What factors about a liability must be verified by an auditor?
-
How can the auditor determine if all liabilities are included?
-
Suppose you are controller of a medium-sized oil exploration company in western Texas. You adhere to the standards of ethical conduct for management accountants. How would those standards affect your...
-
Mixture of persuasive and negative formal I am Elizabeth grinderFirst part email Next part setting up the meeting Final part memo The reader is Robert * do not come off accusatory*** Project TWO:...
-
Anyone who has sampled today's social media offerings has probably experienced this situation: You find a few fascinating blogs, a few interesting people to follow on Twitter, a couple of podcast...
-
a. Begin with a converging lens of focal length f. Place an illuminated object a distance p, in front of the lens. For all positive values of p;: 1. calculate and sketch a graph of the location of...
-
Two firms are bidding for a $100 million contract in an all-pay auction. The bidding continues over many rounds, and each firm must incur a non-recoverable cost equal to 1% of the total value of the...
-
Illustrate the different steps required for the insertion of 58 followed by the deletion of 40 in the following AVL tree. 55 40 50 65 60 60 57 70 70
-
(a) Prove that the individual entries aij of a matrix A are bounded in absolute value by its matrix norm: |aij| (b) Prove that if the series converges, then the matrix series converges to some matrix...
-
In the synthesis of the keto acid just given, the dicarboxylic acid decarboxylates in a specific way; it gives Explain. HO rather than HO
-
Explain what is meant by acceptable risk of incorrect acceptance. What are the major audit factors affecting ARIA?
-
Evaluate the following statement made by an auditor: "I took a random sample and derived a 90 percent confidence interval of $800,000 to $900,000. That means that the true population value will be...
-
What is the relationship between ARIA and ARACR?
-
In general, managerial decisions affecting capacity-related costs and activities also affect volume-level, batch-level, and product-level cost and activities. True or False
-
All the information and references are shown in the attachments 3.1. What are the two types of fraud presented in AS 2401? (cite the reference (AU-C 240 or AS2401) and the page number(s). 3.2. Six...
-
Becki Jean Corporation issued a one-year, 6%, $500,000 note on April 30, 2020. Interest expense for the year ended December 31, 2020 was $30,000. $22,500. $20,000. $17,500
Study smarter with the SolutionInn App