difference between amortization & provision & reserves

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krissun (Querist)
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21 May 2009 anybody can explain me the difference between amortization & provision & reserves ?

CA CS CIMA Prakash Somani (Expert)
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21 May 2009 Amortisation :
In business, amortization is the distribution of a single lump-sum cash flow into many smaller cash flow installments

CA CS CIMA Prakash Somani (Expert)
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21 May 2009 REserve are made for Future safety and provisions are made for future expected liability.

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