What is a provision?
Question:
What is a provision?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
A provision in accounting and finance refers to an amount set aside or estimated to cover a potentia...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Cambridge International AS And A Level Accounting
ISBN: 9781444181432
1st Edition
Authors: Ian Harrison
Question Posted:
Students also viewed these Business questions
-
Examine Notes 3 and 22 to Canadian Tire's financial statements on provisions and answer the following questions: a. What is a provision and why are they necessary under IFRS? b. What are site...
-
What is a company's hypothetical income tax provision and what is its importance in a company's disclosure of its income tax provision in the tax footnote?
-
Tests of Between-Subjects Effects Dependent Variable: rating Type III Sum of Squares Source df Mean Square F Sig. Corrected Model 262.216* 87.405 3 13.184 .000 Intercept 4995.244 4995.244 753.499 000...
-
According to Kurt Lewin, why is it so difficult to motivate employees to alter their patterns of behavior?
-
The following three situations involve the capitalization of interest. Situation I: On January 1, 2014, Oksana Baiul, Inc. signed a fixed-price contract to have Builder Associates construct a major...
-
David Kelley is considering the implementation of an incentive wage plan to increase productivity in his small manufacturing plant. The plant is nonunion, and employees have been compensated with...
-
The disk shown in Figure P28.24 is charged with electrons and spins counterclockwise when viewed from above. From this perspective, what is the direction of the magnetic dipole moment of the disk?...
-
In 2010, Jennifer (Jen) Liu and Larry Mestas founded Jen and Larrys Frozen Yogurt Company, which was based on the idea of applying the microbrew or microbatch strategy to the production and sale of...
-
Question two (20mks) Building Societies Act is a well structured and balanced Organism that spells out different functions. Identify and describe the organization and management of building society...
-
Fill in the following gaps. a. Non-current assets are shown on the________ side of real accounts in the general ledger. b. All assets with a________ life should be depreciated. c. Only the asset...
-
Sales $37980; sales returns $356; purchases returns $299. What is the value of net sales?
-
Methane at 260 K is to be isothermally compressed from 0.1 MPa to 1.0 MPa. a. What is the minimum work required, and how much heat must be removed to keep the compression process isothermal? b. If...
-
What are some reasons why understanding the organization of the Internal Revenue Code may prove useful in the accounting world no matter what your job title is ?
-
Discuss how a good understanding of the state of the economy might help you make better decisions. Discuss how much of a role you think a government should play in a market system. Explain how you...
-
Ricardo works for Bank B and is talking about loans with a consumer. He provides the consumer with a general explanation regarding the basic qualifications of a loan. Although the consumer plans to...
-
Consider two descriptive facts. First, the poorest countries in the world are disproportionately located close to the equator. Second, the civilizations that were richest in 1500 are among the...
-
4-21. A boat moves diagonally across a river at a heading of 60 south of east at a speed of V = 8 mph. The river flows due west at a speed of V = 3 mph. The resulting vector diagram for resultant...
-
For Exercise 2, why is it better to use values of adjusted R2 instead of simply using values of R2?
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
Arrange the following non-current assets in the order that they would appear in a statement of financial position: vehicles; premises; office equipment; machinery.
-
Which of the following are noncurrent assets for a garage that sells cars, repairs vehicles and sells spare parts: a break-down recovery vehicle; spare parts for Honda cars; a lifting jack; a desk...
-
Complete the following formulae: (a) Profit for the year + revenue expenses = ? (b) Gross profit revenue expenses = ? (c) Gross profit profit for the year = ?
-
The conservation of linear momentum can be written in vector form as: Ot +. Di = pg - Tp H or alternatively as (1) DU = p p + 7 Dt Show that these two expressions are equivalent by expanding into...
-
1. While doing a lab experiment, physics students experimentally gathered data in order to determine the true resistance of a "500" resistor. Create a graph showing the Voltage vs. Current. By using...
-
3. Ontario Power Generation at Niagara Falls has water that falls 55m. If about 4.54x 108 kg of water falls every minute, how many megajoules of energy are created by the falling water per minute?
Study smarter with the SolutionInn App