--%>

Provisional Entries

Describe Provisional Entries?

E

Expert

Verified

Provision entries are the entries which are made to account for expenses which have not been accounted in the period for which it associates. Therefore debiting the expenses and crediting the party account or liability account forms the provision.

   Related Questions in Managerial Accounting

  • Q : Planned product cost and the actual cost

    A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1).

    Q : Why most of the larger businesses are

    Why most of the larger businesses are not managed as the single unit through one manager?

  • Q : What are the steps involved in Process

    ACCOUNTING PROCESS:  The process of Accounting involves the following steps:

    Q : Blackout period A defined time period

    A defined time period in accounting for stock options. In the mean while the blackout period person granted the option is not allowed to exercise it. This usually occurs after the granting of the stock options and allows the price of the stock to increase above the exercise price.  <

  • Q : Asset retirement obligation Significant

    Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added

  • Q : Management Accounting Project Please

    Please let me know the cost of getting this assignment completed?

  • Q : Working areas of the Finance department

    Write a short note on the main working areas of the Finance department?

  • Q : Management accounting-scope Write down

    Write down the scope of Management accounting?

  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

  • Q : What is Outputs Outputs : Any product

    Outputs: Any product or service formed from the consumption of resources. This can comprise information or paper work produced by the completion of the tasks of an activity.