Poonawalla fincorps
Poonawalla fincorps

Difference between provision and reserves

This query is : Resolved 
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(Querist)
05 July 2012 please let me know what is the main difference between provision and the reseves.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
05 July 2012 Provisions are made for meeeting the liabilities but reserves are not for meeting the expenses.Resereves are real profit of the company.

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