Provision for Accounting Vs Tax Concept about Estimated Expense
Provision for Accounting Vs Tax Concept about Estimated Expense *** Note: Estimated Expense such as estimated bad debt, warranty expense, obsolete inventory etc. Accounting to IAS 37 Provisions, Contingent Liabilities and Contingent Assets, Provision is estimated liability. Dr. Estimated Expense……xxx Cr. Provision …………………….xxx For example, we buy and sell phone, computer, car,printer, scanner etc, we may make warranty contract for
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